Commercial Metals Company - CMC STOCK NEWS

Commercial Metals Company (NYSE: CMC) announced a proposed tax-exempt bond financing of $150.0 million authorized by the Industrial Development Authority of the County of Maricopa. The funds will finance a portion of a new steel micro mill in Mesa, Arizona. The bonds will be issued as special limited obligations, and if completed, will be assigned to a trustee for bondholders. The financing is not registered under the Securities Act and is subject to inherent risks and uncertainties, including economic conditions and commodity pricing impacts.

Commercial Metals Company (NYSE: CMC) announced the successful closing of a $600 million offering of senior notes, consisting of $300 million in 4.125% notes due 2030 and $300 million in 4.375% notes due 2032. Proceeds from this offering will be used to redeem outstanding 5.375% senior notes due 2027 and for general corporate purposes. The redemption will take effect on February 15, 2022.

Bank of America Securities led the underwriting for this offering.

Commercial Metals Company (NYSE: CMC) announced the appointment of John R. McPherson to its Board of Directors, effective March 15, 2022. McPherson brings over 30 years of experience, including roles at Vulcan Materials Company as Chief Financial & Strategy Officer. His strong financial background is expected to aid CMC in advancing its position in the construction materials market. With his addition, the board will consist of 9 members, 8 of whom are independent. McPherson holds a Bachelor of Arts in Economics and an MBA from Stanford University.

Commercial Metals Company (CMC) announced a conditional notice for the redemption of all outstanding 5.375% Senior Notes due 2027, totaling $300 million, set for February 15, 2022. This redemption is contingent on the successful issuance and sale of debt securities amounting to at least $600 million. The redemption price will equal the principal plus a "make-whole" premium and accrued interest. The company emphasized that this announcement is not a redemption notice and is not an offer to sell securities.

Commercial Metals Company (CMC) announced a $600 million offering of senior notes, consisting of $300 million in 4.125% Senior Notes due 2030 and $300 million in 4.375% Senior Notes due 2032. The offering size was increased from an initial $300 million. Proceeds will be used to redeem existing 5.375% senior notes due 2027 and for general corporate purposes. The offering is expected to close on or about January 28, 2022, subject to closing conditions. BofA Securities leads the underwriting team.

Commercial Metals Company (NYSE: CMC) announced a proposed offering of $300 million in senior notes, subject to market conditions. The net proceeds will be utilized for general corporate purposes. This offering falls under an effective shelf registration statement with the SEC. BofA Securities is leading the underwriting process with other banks involved. The press release also includes forward-looking statements cautioning investors about inherent risks and uncertainties related to the offering and the broader economic environment.

Commercial Metals Company (NYSE: CMC) announced plans to construct a new state-of-the-art micro mill aimed primarily at serving the Northeast, Mid-Atlantic, and Mid-Western U.S. markets. With a focus on environmentally friendly operations, the new facility will utilize advanced technology to reduce energy consumption and emissions. The project is expected to significantly enhance CMC's operational scale in the region. Anticipated state and local incentives, along with the recent Infrastructure Investment and Jobs Act, are expected to boost demand for construction steel. Construction will span approximately two years.

Commercial Metals Company (NYSE: CMC) reported a strong fiscal Q1 2022, with earnings from continuing operations of $232.9 million ($1.90 per diluted share) on net sales of $2.0 billion, compared to $63.9 million ($0.53 per diluted share) on $1.4 billion in Q1 2021. Adjusted earnings reached $199.2 million ($1.62 per diluted share). Core EBITDA hit record levels, totaling nearly $1.0 billion annually, driven by improved margins and operational efficiency. The company also announced a quarterly dividend increase of 17%. Strong demand and strategic growth initiatives underpin a positive outlook for fiscal 2022.

The board of directors of Commercial Metals Company (NYSE: CMC) has declared a quarterly cash dividend of $0.14 per share, marking its 229th consecutive quarterly dividend. This dividend will be paid on February 3, 2022, to stockholders of record as of the close of business on January 20, 2022. CMC operates through a network of facilities, including seven electric arc furnace mini mills and metal recycling facilities in the U.S. and Poland, focusing on manufacturing and recycling steel and metal products.