RUSSEL METALS ANNOUNCES INAUGURAL OFFERING OF INVESTMENT GRADE SENIOR UNSECURED NOTES
Russel Metals (TSX: RUS) has announced a $300 million offering of senior unsecured notes with a 4.423% coupon rate and five-year maturity, due in 2030. The notes have received a provisional BBB (low) rating with a stable trend from DBRS
The offering represents a strategic move to establish lower-cost term debt in the company's capital structure. The notes feature a flexible structure without financial or maintenance covenants and will rank equally with other unsecured and unsubordinated indebtedness.
The private placement is being led by RBC Capital Markets and Scotia Capital Inc. as Joint Lead Agents and Joint Bookrunners, with closing expected around March 28, 2025. The proceeds will be used for general corporate purposes.
Russel Metals (TSX: RUS) ha annunciato un
L'emissione rappresenta una mossa strategica per stabilire un debito a lungo termine a costo inferiore nella struttura del capitale dell'azienda. Le note presentano una struttura flessibile senza covenants finanziari o di mantenimento e avranno lo stesso rango di altri debiti non garantiti e non subordinati.
Il collocamento privato è guidato da RBC Capital Markets e Scotia Capital Inc. come Joint Lead Agents e Joint Bookrunners, con la chiusura prevista intorno al 28 marzo 2025. I proventi saranno utilizzati per scopi aziendali generali.
Russel Metals (TSX: RUS) ha anunciado una
La emisión representa un movimiento estratégico para establecer deuda a plazo de menor costo en la estructura de capital de la empresa. Las notas cuentan con una estructura flexible sin convenios financieros o de mantenimiento y tendrán el mismo rango que otras deudas no garantizadas y no subordinadas.
El placement privado está liderado por RBC Capital Markets y Scotia Capital Inc. como Agentes Líderes Conjuntos y Co-Administradores, con el cierre esperado alrededor del 28 de marzo de 2025. Los ingresos se utilizarán para fines corporativos generales.
Russel Metals (TSX: RUS)은 3억 달러 규모의 선순위 무담보 채권 발행을 발표했습니다. 이 채권은 4.423%의 쿠폰 금리를 가지고 있으며 2030년에 만료되는 5년 만기입니다. 이 채권은 DBRS로부터 안정적인 추세의 BBB(낮음)라는 잠정 등급을 받았습니다.
이번 발행은 회사 자본 구조에서 저비용 장기 부채를 설정하기 위한 전략적 움직임을 나타냅니다. 이 채권은 재무 또는 유지 관리 약정이 없는 유연한 구조를 특징으로 하며, 다른 무담보 및 비서브 채무와 동등한 순위를 가집니다.
이번 사모 배치는 RBC Capital Markets와 Scotia Capital Inc.가 공동 주관사 및 공동 주관자로 이끌고 있으며, 2025년 3월 28일경에 마감될 것으로 예상됩니다. 수익금은 일반 기업 용도로 사용될 예정입니다.
Russel Metals (TSX: RUS) a annoncé une
L'émission représente un mouvement stratégique pour établir une dette à terme à moindre coût dans la structure du capital de l'entreprise. Les billets présentent une structure flexible sans engagements financiers ou de maintenance et seront classés au même niveau que d'autres dettes non garanties et non subordonnées.
Le placement privé est dirigé par RBC Capital Markets et Scotia Capital Inc. en tant qu'agents principaux conjoints et co-responsables de la gestion, avec une clôture prévue autour du 28 mars 2025. Les produits seront utilisés à des fins corporatives générales.
Russel Metals (TSX: RUS) hat eine 300 Millionen Dollar-Angebot für unbesicherte vorrangige Anleihen mit einem Kuponzinssatz von 4,423% und einer Laufzeit von fünf Jahren bis 2030 angekündigt. Die Anleihen haben eine vorläufige BBB (niedrig) Bewertung mit stabiler Tendenz von DBRS erhalten.
Das Angebot stellt einen strategischen Schritt dar, um kostengünstigere langfristige Schulden in der Kapitalstruktur des Unternehmens zu etablieren. Die Anleihen bieten eine flexible Struktur ohne finanzielle oder Wartungsvereinbarungen und werden gleichrangig mit anderen unbesicherten und nicht nachrangigen Verbindlichkeiten eingestuft.
Die Privatplatzierung wird von RBC Capital Markets und Scotia Capital Inc. als gemeinsame Hauptagenten und gemeinsame Bookrunner geleitet, wobei der Abschluss für den 28. März 2025 erwartet wird. Die Erlöse werden für allgemeine Unternehmenszwecke verwendet.
- Secured $300 million in new financing through investment grade notes
- Achieved lower cost of debt with 4.423% coupon rate
- Obtained BBB (low) investment grade rating with stable trend
- Notes structure provides flexibility with no financial or maintenance covenants
- Increases company's debt obligations by $300 million
$300 MILLION 4.423% COUPON AND FIVE YEAR MATURITY- RE-ESTABLISHES A BASE LEVEL OF LOWER COST TERM DEBT IN THE CAPITAL STRUCTURE
Martin L. Juravsky, 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."
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
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.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority. The Notes have not been and will not be qualified for distribution to the public under the securities laws of any province or territory of
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. The completion of the Offering is subject to general market and other conditions and there can be no assurance that the Offering will be completed or that the terms of the Offering will not be modified. 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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SOURCE Russel Metals Inc.
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