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Worthington Steel Keeps Quarterly Dividend at $0.16 a Share, Payable Sept. 29 to Shareholders of Record on Sept. 15
Worthington Steel Keeps Quarterly Dividend at $0.16 a Share, Payable Sept. 29 to Shareholders of Record on Sept. 15
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Worthington Steel Unit Plans $900 Senior Notes Offering
Worthington Steel (WS) said Tuesday its subsidiary, WS Escrow, plans to issue $900 million in senior secured notes due 2033.The company said it plans to use the proceeds, along with funds from a new term loan, mainly to support its planned acquisition of Kloeckner. The funds will help cover the purchase price, shareholder loans, payments to minority Kloeckner shareholders, transaction-related fees and expenses, repayment of some existing debt, and general working capital purposes.The notes offering is not conditioned on the consummation of the Kloeckner acquisition, the company added.Price: $41.48, Change: $+1.39, Percent Change: +3.47%
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