Worthington Steel prices USD 700 million 7.75% senior secured notes due 2033

Worthington Steel, Inc.

Worthington Steel, Inc.

WS

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  • Worthington Steel priced a USD 700 million offering of 7.75% senior secured notes due 2033.
  • Deal size cut from USD 900 million as the new term loan allocation increased to USD 700 million from USD 500 million.
  • Proceeds to help fund the pending Kloeckner acquisition, repay debt, cover fees, fund shareholder-related payments, support working capital.
  • Closing expected around June 1, 2026; Kloeckner acquisition expected to close June 3, 2026.
  • Notes secured by liens on substantially all assets; special mandatory redemption if the acquisition is not completed by March 12, 2027.


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