Commercial Metals Company Announces Closing of Tax-Exempt Bond Financing with Proceeds of $150.0 Million
Commercial Metals Company (NYSE: CMC) has successfully closed a tax-exempt bond financing deal worth $150.0 million through the West Virginia Economic Development Authority (WVEDA). The Solid Waste Disposal Facilities Revenue Bonds will bear interest at 4.625% per annum and mature in 2055. The proceeds will finance the construction of solid waste disposal facilities in Berkeley County, West Virginia.
Under the agreement, CMC will be responsible for semiannual interest payments and principal repayment upon maturity or earlier redemption. The company, which operates primarily in the United States and Central Europe, provides reinforcement solutions for the global construction sector, focusing on infrastructure, non-residential, residential, industrial, and energy projects.
Commercial Metals Company (NYSE: CMC) ha concluso con successo un finanziamento obbligazionario esente da imposte del valore di 150,0 milioni di dollari attraverso la West Virginia Economic Development Authority (WVEDA). Le obbligazioni Solid Waste Disposal Facilities Revenue Bonds avranno un interesse annuo del 4,625% e scadranno nel 2055. I proventi finanzieranno la costruzione di impianti per lo smaltimento dei rifiuti solidi nella contea di Berkeley, West Virginia.
Secondo l'accordo, CMC sarà responsabile dei pagamenti semestrali degli interessi e del rimborso del capitale alla scadenza o in caso di riscatto anticipato. L'azienda, che opera principalmente negli Stati Uniti e nell'Europa centrale, offre soluzioni di rinforzo per il settore globale delle costruzioni, concentrandosi su progetti infrastrutturali, non residenziali, residenziali, industriali ed energetici.
Commercial Metals Company (NYSE: CMC) ha cerrado con éxito un financiamiento mediante bonos exentos de impuestos por un valor de 150,0 millones de dólares a través de la West Virginia Economic Development Authority (WVEDA). Los bonos Solid Waste Disposal Facilities Revenue Bonds tendrán un interés anual del 4,625% y vencerán en 2055. Los fondos se destinarán a la construcción de instalaciones para la disposición de residuos sólidos en el condado de Berkeley, Virginia Occidental.
Según el acuerdo, CMC será responsable de los pagos semestrales de intereses y del reembolso del principal al vencimiento o en caso de redención anticipada. La empresa, que opera principalmente en Estados Unidos y Europa Central, ofrece soluciones de refuerzo para el sector global de la construcción, enfocándose en proyectos de infraestructura, no residenciales, residenciales, industriales y energéticos.
Commercial Metals Company (NYSE: CMC)는 West Virginia Economic Development Authority(WVEDA)를 통해 1억 5천만 달러 규모의 면세 채권 금융 거래를 성공적으로 마무리했습니다. Solid Waste Disposal Facilities Revenue Bonds는 연 4.625%의 이자를 지급하며 2055년에 만기됩니다. 이 자금은 웨스트버지니아주 버클리 카운티에 고형 폐기물 처리 시설 건설에 사용될 예정입니다.
계약에 따라 CMC는 반기별 이자 지급과 만기 또는 조기 상환 시 원금 상환을 책임집니다. 주로 미국과 중부 유럽에서 운영되는 이 회사는 인프라, 비주거용, 주거용, 산업 및 에너지 프로젝트에 중점을 두고 전 세계 건설 부문에 보강 솔루션을 제공합니다.
Commercial Metals Company (NYSE : CMC) a conclu avec succès un financement obligataire exonéré d'impôts d'un montant de 150,0 millions de dollars via la West Virginia Economic Development Authority (WVEDA). Les obligations Solid Waste Disposal Facilities Revenue Bonds porteront un intérêt annuel de 4,625 % et arriveront à échéance en 2055. Les fonds serviront à financer la construction d'installations de gestion des déchets solides dans le comté de Berkeley, en Virginie-Occidentale.
Selon l'accord, CMC sera responsable des paiements semestriels des intérêts ainsi que du remboursement du principal à l'échéance ou en cas de remboursement anticipé. L'entreprise, qui opère principalement aux États-Unis et en Europe centrale, fournit des solutions de renforcement pour le secteur mondial de la construction, en se concentrant sur les projets d'infrastructure, non résidentiels, résidentiels, industriels et énergétiques.
Commercial Metals Company (NYSE: CMC) hat erfolgreich eine steuerbefreite Anleihe über 150,0 Millionen US-Dollar über die West Virginia Economic Development Authority (WVEDA) abgeschlossen. Die Solid Waste Disposal Facilities Revenue Bonds tragen einen Zinssatz von 4,625 % pro Jahr und laufen bis 2055. Die Erlöse werden für den Bau von Einrichtungen zur Entsorgung fester Abfälle im Berkeley County, West Virginia, verwendet.
Im Rahmen der Vereinbarung ist CMC für halbjährliche Zinszahlungen sowie die Rückzahlung des Kapitals bei Fälligkeit oder vorzeitiger Rückzahlung verantwortlich. Das Unternehmen, das hauptsächlich in den USA und Mitteleuropa tätig ist, bietet Verstärkungslösungen für den globalen Bausektor mit Schwerpunkt auf Infrastruktur-, Nichtwohn-, Wohn-, Industrie- und Energieprojekten.
- Secured $150.0 million in tax-exempt bond financing for facility expansion
- Favorable 4.625% interest rate in the current market environment
- Investment in waste disposal facilities demonstrates commitment to sustainability
- Long-term debt obligation extending to 2055
- Additional interest payment obligations will impact cash flow
Insights
CMC secured $150M in tax-exempt bonds at 4.625% for waste facility construction in West Virginia, strengthening long-term infrastructure investment capabilities.
CMC has successfully closed a
This financing structure is particularly advantageous for CMC for several reasons. First, the tax-exempt nature of these bonds typically results in lower interest rates compared to traditional corporate debt. At
The bond proceeds will fund solid waste disposal facilities, which likely support CMC's core business of steel manufacturing and recycling operations. Such facilities are crucial for managing and processing manufacturing byproducts, potentially reducing environmental compliance costs and supporting sustainability initiatives.
This financing demonstrates CMC's ability to access diverse capital sources and leverage government partnerships for infrastructure investments. With the company committed to servicing the semiannual interest payments and eventual principal repayment, the structure suggests a strategic balancing of capital needs while maintaining financial flexibility for core operations in the construction solutions sector.
The Bonds will bear interest at
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
About CMC
CMC is an innovative solutions provider helping build a stronger, safer, and more sustainable world. Through an extensive manufacturing network principally located in
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SOURCE Commercial Metals Company
FAQ
What is the purpose of CMC's $150 million bond financing in 2025?
What is the interest rate and maturity date for CMC's 2025 tax-exempt bonds?
Who issued the tax-exempt bonds for Commercial Metals Company (CMC)?
What are CMC's payment obligations for the 2025 tax-exempt bonds?
