Worthington will price $200 million offering of 15-year senior notes

By Devika Patel

Knoxville, Tenn., July 25 – Worthington Industries Inc. plans a sale of senior notes due 2032 (Baa3/BBB), according to a 424B5 filed with the Securities and Exchange Commission. The company will issue $200 million of the notes, according to press releases from Moody's Investors Service and S&P Global Ratings.

The notes have a make-whole call feature and then are callable at par.

The bookrunners are J.P. Morgan Securities LLC and BofA Merrill Lynch.

Proceeds will be used to repay borrowings under the company’s revolving credit facility and to repay debt under its revolving trade accounts receivable securitization facility.

The metal processing company is based in Columbus, Ohio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.