Russel Metals to Redeem $150 Million of Its Outstanding 6.00% Senior Unsecured Notes Due April 19, 2022
Russel Metals to Redeem $150 Million of Its Outstanding 6.00% Senior Unsecured Notes Due April 19, 2022 |
[01-October-2020] |
TORONTO, Oct. 1, 2020 /PRNewswire/ - Russel Metals Inc. (TSX: RUS) today gave notice to redeem $150 million principal amount of its 6.00% senior unsecured notes due April 19, 2022 (the "Notes") on November 5, 2020, at a price equal to 100% of the aggregate principal amount of the Notes to be redeemed plus accrued and unpaid interest thereon to the date on which they are redeemed. This redemption represents half of the original $300 million principal amount of the Notes and will be financed through cash on hand and borrowings under the company's credit facility. Martin L. Juravsky, Executive Vice President and CFO commented, "This redemption, in combination with the recent extension and update of the company's credit facility, will substantially reduce Russel's interest expense while maintaining strong ongoing liquidity." About Russel Metals If you would like to unsubscribe from receiving Press Releases, you may do so by emailing info@russelmetals.com; or by calling our Investor Relations Line: 905-816-5178. Web site: www.russelmetals.com View original content:http://www.prnewswire.com/news-releases/russel-metals-to-redeem-150-million-of-its-outstanding-6-00-senior-unsecured-notes-due-april-19--2022--301142001.html SOURCE Russel Metals Inc. | ||
Company Codes: OTC-PINK:RUSMF, Toronto:RUS |
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