Hexcel to reduce revolving credit facility debt with new note offering

By Tali Rackner

Norfolk, Va., July 29 – Hexcel Corp. plans to reduce amounts outstanding under its revolving credit facility with the proceeds from a new senior note offering, according to a 424B5 filing with the Securities and Exchange Commission.

As of July 21, there was about $508 million of debt outstanding under the revolver, which matures in September 2019.

Proceeds will also be used for general corporate purposes, including the repurchase of shares of outstanding common stock pursuant to the company’s authorized share repurchase program.

Hexcel is a composites company based in Stamford, Conn.

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