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RPM International to use note proceeds to repay part of revolver
By Angela McDaniels
Tacoma, Wash., Feb. 27 – RPM International Inc. plans to repay a portion of the outstanding borrowings under its revolving credit facility due 2019, according to a 424B5 filing with the Securities and Exchange Commission.
Bank of America, NA and Wells Fargo, NA are lenders under the revolver.
The company will fund the repayment with proceeds from a new issue of notes. Proceeds will also be used for general corporate purposes.
The company plans to offer 10-year notes and an add-on to its $250 million of 5.25% notes due 2045.
RPM is a Medina, Ohio-based company that manufactures and markets specialty chemical products for industrial and consumer markets.
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