Keystone Consolidated Industries to repay revolver with stock proceeds

By Sara Rosenberg

New York, Feb. 12 - Keystone Consolidated Industries, Inc. plans to repay some borrowings under its revolving credit facility using proceeds from the sale of 2.5 million shares of common stock, according to a news release.

The shares are being sold at a price of $10.00 per share, for proceeds of $25 million.

At Dec. 31, the revolver had a balance of $46.3 million.

Keystone Consolidated Industries is a Dallas-based manufacturer of steel fabricated wire products, industrial wire, billets and wire rod.

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