Worthington Industries Prices $250 Mln Of Senior Notes

(RTTNews) - Worthington Industries, Inc. (WOR) said Thursday that it has priced its $250 million aggregate principal amount of senior notes due 2026.

The senior notes, which will bear interest at a rate of 4.55%, are being sold to the public at 99.789% of the principal amount thereof, to yield 4.573% to maturity.

The offering is expected to close on April 15.

The company plans to use the net proceeds from the offering to repay the outstanding borrowings under its revolving credit facility and to repay amounts outstanding under its revolving trade accounts receivable securitization facility. The remaining portion of the net proceeds will be added to working capital and used for general corporate purposes, which may include repayment of other indebtedness.