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Lincoln Electric Holdings (LECO) just unveiled an update.
Lincoln Electric Holdings, Inc. has entered into a Note Purchase Agreement to issue $550 million in senior unsecured notes with varying interest rates and maturity dates spanning from 2024 to 2034. The company used the proceeds from the Series C notes to fully repay and terminate its previous credit agreement. Additionally, Lincoln Electric has secured a new revolving credit facility of up to $1 billion, with the provision to increase by $300 million, which replaces their prior credit arrangements. This strategic financial restructuring is aimed at optimizing the company’s borrowing costs and flexibility.
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