By Lisa Kerner
Charlotte, N.C., Oct. 15 – Barnes Group Inc. agreed to sell $100 million of 3.97% senior notes due October 2024.
The transaction is expected to be completed on Friday, according to a company news release.
“This private placement creates capacity under the existing credit facility to support our growth strategy, provides long-term debt financing at favorable rates and diversifies our funding profile,” Christopher J. Stephens Jr., senior vice president and chief financial officer, said in the news release.
Barnes Group is a Bristol, Conn.-based aerospace and industrial manufacturing and service provider.
| Issuer: | Barnes Group Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Coupon: | 3.97%
|
| Maturity: | October 2024
|
| Distribution: | Private placement
|
| Announcement date: | Oct. 15
|
| Settlement date: | Oct. 17
|
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