Russel Metals (TSE:RUS) has released an update.
Russel Metals Inc. has announced that it will redeem all of its outstanding 6% senior unsecured notes due in 2026 on May 2, 2024. The redemption will use $150 million of the company’s cash reserves to improve its debt structure and reduce future interest expenses, leveraging its strong liquidity position as evidenced by the $629 million in cash and equivalents as of the end of the previous year.
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