Russel Metals Closes $300 Million Offering of Investment Grade Senior Unsecured Notes
Russel Metals (TSX: RUS) has successfully completed its previously announced offering of $300 million aggregate principal amount of senior unsecured notes.
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Rhea-AI Summary
Russel Metals (TSX: RUS) has successfully completed its previously announced offering of $300 million aggregate principal amount of senior unsecured notes. The notes, rated BBB (low) with a stable trend by DBRS , carry a 4.423% interest rate and will mature in 2030. The company plans to utilize the net proceeds from this offering for general corporate purposes.
Positive
- Successfully raised $300 million through investment grade notes offering
- Received BBB (low) investment grade rating with stable trend from DBRS
Negative
- Takes on $300 million in new debt with 4.423% interest rate
Details
News Market Reaction – RUSMF
The recorded move for RUSMF in the trading session of this news was -1.51%.
Data tracked by StockTitan Argus. Session date unavailable.
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About Russel Metals Inc.
Russel Metals is one of the largest metals distribution companies in
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Cautionary Statement on Forward-Looking Information
Certain statements contained in this press release constitute forward-looking statements or information within the meaning of applicable securities laws relating to, among other things, the anticipated benefits of the Offering. Forward-looking statements are often, but not always, identified by the use of words such as "expect", "may", "will", "could", "might", "should", "believe" and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions that, while considered reasonable by us, inherently involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements.
While we believe that the expectations reflected in our forward-looking statements are reasonable, no assurance can be given that these expectations will prove to be correct, and our forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release and, except as required by law, we do not assume any obligation to update our forward-looking statements.
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