The latest update is out from Russel Metals ( (TSE:RUS) ).
Russel Metals Inc. has announced a $300 million offering of senior unsecured notes with a 4.423% coupon and a five-year maturity, aimed at re-establishing a base level of lower-cost term debt in its capital structure. This strategic move is part of Russel Metals’ ongoing efforts to strengthen its business portfolio and balance sheet with an investment-grade approach. The notes, which do not include financial or maintenance covenants, are expected to enhance the company’s financial flexibility and are being offered on a private-placement basis in Canada. The offering is led by RBC Capital Markets and Scotia Capital Inc., and is anticipated to close around March 28, 2025.
More about Russel Metals
Russel Metals is one of the largest metals distribution companies in North America, focusing on value-added processing. The company operates in three segments: metals service centers, energy products, and steel distributors. It offers a wide range of metal products, including carbon steel, pipe and tubular products, stainless steel, aluminum, and other non-ferrous specialty metals. Its energy products are tailored to the energy industry’s needs, while its steel distributors sell large volumes to other service centers and manufacturers.
YTD Price Performance: -6.09%
Average Trading Volume: 16,520
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $1.56B
Learn more about RUS stock on TipRanks’ Stock Analysis page.