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Worthington Steel Unit Plans $900 Senior Notes Offering

BY MT Newswires | CORPORATE | 10:20 AM EDT

10:20 AM EDT, 05/26/2026 (MT Newswires) -- Worthington Steel (WS) said Tuesday its subsidiary, WS Escrow, plans to issue $900 million in senior secured notes due 2033.

The company said it plans to use the proceeds, along with funds from a new term loan, mainly to support its planned acquisition of Kloeckner. The funds will help cover the purchase price, shareholder loans, payments to minority Kloeckner shareholders, transaction-related fees and expenses, repayment of some existing debt, and general working capital purposes.

The notes offering is not conditioned on the consummation of the Kloeckner acquisition, the company added.

Price: 41.48, Change: +1.39, Percent Change: +3.47

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