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TORONTO, Nov. 4, 2015 /CNW/ - Russel Metals Inc. (RUS
- TSX) today announced that it has completed its previously
announced redemption of all of its outstanding 7.75% convertible
unsecured subordinated debentures due September 30, 2016 (the
"Debentures"). As at the close of trading on
November 3, 2015, the aggregate
principal amount of Debentures outstanding was $174,323,000.
In accordance with their terms, holders were paid a total
redemption price of $1,007.43 per
$1,000 principal amount of Debentures
which was equal to the outstanding principal amount of the
Debentures plus accrued and unpaid interest thereon up to, but
excluding the redemption date. The Debentures, which traded under
the symbol RUS.DB, have halted trading and were delisted from the
Toronto Stock Exchange at the close of markets today.
About Russel Metals
Russel Metals is one of the largest metals distribution companies
in North America. It carries on business in three metals
distribution segments: metals service centers, energy products and
steel distributors, under various names including Russel Metals,
A.J. Forsyth, Acier Leroux, Acier
Loubier, Alberta Industrial Metals, Apex Distribution, Apex
Monarch, Apex Remington, Apex Western Fiberglass, Arrow Steel
Processors, B&T Steel, Baldwin International, Comco Pipe and
Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe
Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits
Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals
Specialty Products, Russel Metals Williams Bahcall, Siemens
Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular
& Supply, Wirth Steel and
York-Ennis.
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SOURCE Russel Metals Inc.