MEDINA, OH ─ RPM International Inc. recently announced that it agreed to sell $300 million aggregate principal amount of 2.950% notes due 2032.
The sale of the notes is expected to close January 25, 2022, and is pursuant to the provisions of an underwriting agreement dated January 10, 2022, among RPM and BofA Securities Inc. and Goldman Sachs & Co. LLC, as representatives of the underwriters.
RPM will pay interest on the notes semiannually on January 15 and July 15 of each year, beginning on July 15, 2022.
The expected net proceeds from the offering of the notes will be approximately $296.2 million, after deducting the underwriting discount and RPM’s estimated expenses related to the offering. RPM intends to use the net proceeds to repay a portion of the outstanding borrowings under its revolving credit facility and for general corporate purposes.
The offering of the notes was registered under the Securities Act of 1933, as amended, and is being made pursuant to RPM’s Registration Statement on Form S-3 filed by RPM with the Securities and Exchange Commission. The notes will be offered pursuant to an effective registration statement previously filed with the SEC.
Learn more at www.rpminc.com.