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RUSSEL METALS ANNOUNCES INAUGURAL OFFERING OF INVESTMENT GRADE SENIOR UNSECURED NOTES
RUSSEL METALS ANNOUNCES INAUGURAL OFFERING OF INVESTMENT GRADE SENIOR UNSECURED NOTES C...
About this update from Russel Metals Inc.
[{"type":"text","content":"\n\n\n\n RUSSEL METALS ANNOUNCES INAUGURAL OFFERING OF INVESTMENT GRADE SENIOR UNSECURED NOTES\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n $300 MILLION\n \n OFFERING OF SENIOR UNSECURED NOTES\n \n\n 4.423% COUPON AND FIVE YEAR MATURITY\n \n\n RE-ESTABLISHES A BASE LEVEL OF LOWER COST TERM DEBT IN THE CAPITAL STRUCTURE\n \n\n\n\n\n TORONTO\n \n\n ,\n \n\n March 20, 2025\n \n\n /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has priced an offering (the \"Offering\") of\n \n $300 million\n \n aggregate principal amount of 4.423% senior unsecured notes due 2030 (the \"Notes\").  The net proceeds from the Offering are expected to be used for general corporate purposes. The Notes have been assigned a provisional rating of BBB (low), with a stable trend, by DBRS Limited.\n \n\n\n\n\n\n\n\n\n\n Martin L. Juravsky\n \n , Executive Vice President and CFO of Russel Metals commented, \"This opportunistic note offering is the result of Russel Metals multi-year journey to strengthen and reshape our business portfolio and redesign the balance sheet with an investment grade approach.  We are pleased to reestablish a base level of term debt, with a lower cost and more flexible structure, as the notes do not include any financial or maintenance covenants.\"\n \n\n The Notes will be senior unsecured obligations of Russel Metals that will rank equally with all other present and future unsecured and unsubordinated indebtedness and will be guaranteed on a senior unsecured basis by certain of Russel Metals subsidiaries. The Notes are being offered on a private-placement basis in each of the Provinces of\n \n Canada\n \n with reliance upon exemptions from the prospectus requirements under applicable securities laws.\n \n\n The Offering is being led by RBC Capital Markets and Scotia Capital Inc., as Joint Lead Agents and Joint Bookrunners. The closing of the Offering is expected to be on or about March 28, 2025, subject to customary closing conditions.\n \n\n This news release does not constitute an offer to sell or the solicitation...