A. M. Castle (CAS) Announces $225M Senior Notes Offering; $50M of Convertible Notes
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A. M. Castle & Co. (NYSE: CAS), intends to offer, in a private transaction, $225 million aggregate principal amount of senior secured notes due 2016, subject to market conditions and other factors. Concurrently with the Secured Notes offering, the Company intends to offer, in a private transaction, $50 million aggregate principal amount of convertible senior notes due 2017, subject to market conditions and other factors.
The initial purchasers in the Convertible Notes offering have an option to purchase a maximum of an additional $10 million aggregate principal amount of Convertible Notes. The interest rates and certain other terms of the Secured Notes and Convertible Notes, including, in the case of the Convertible Notes, the conversion rate, will be determined at the time of the pricing of the offerings.
The initial purchasers in the Convertible Notes offering have an option to purchase a maximum of an additional $10 million aggregate principal amount of Convertible Notes. The interest rates and certain other terms of the Secured Notes and Convertible Notes, including, in the case of the Convertible Notes, the conversion rate, will be determined at the time of the pricing of the offerings.
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