/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
TORONTO, March 9, 2018 /CNW/ - Russel Metals Inc. (RUS –
TSX) announced today that it has entered into an underwriting
agreement to sell, on a private placement basis, $150 million aggregate principal
amount of 6% Senior Unsecured Notes due 2026 (the "Notes").
The Notes will be direct senior unsecured obligations of Russel
Metals ranking equally with all of its other present and future
senior unsecured indebtedness.
Russel Metals intends to use the net proceeds of the offering
for the repayment of bank indebtedness and for general corporate
purposes. The offering is expected to close on or about
March 16, 2018, subject to customary
closing conditions.
RBC Capital Markets and GMP Securities are acting as joint book
runners and co-lead managers for the offering, with an underwriting
syndicate that includes Scotia Capital Inc., Laurentian Bank
Securities Inc., Raymond James Ltd. and Wells Fargo Securities
Canada, Ltd.
Securities Law Matters
The Notes were offered on a private placement basis in each of
the provinces of Canada and in
the United States without the
filing of a prospectus or registration statement. This news
release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United States.
The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
This announcement does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About Russel Metals
Russel Metals is one of the largest metals distribution and
processing 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, Color Steels, 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 Processing, Russel
Metals Specialty Products, Russel Metals Williams Bahcall, Spartan
Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply,
Wirth Steel and York-Ennis.
Cautionary Statement on Forward-Looking Information
Certain statements contained in this press release constitute
forward-looking statements or information within the meaning of
applicable securities laws, including statements as to the expected
timing of the closing of the offering and our anticipated use of
proceeds of the offering. Forward-looking statements relate
to future events or our future performance. All statements, other
than statements of historical fact, are forward-looking statements.
Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar expressions. Forward-looking
statements are necessarily based on estimates and assumptions that,
while considered reasonable by us, inherently involve known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking statements, including the
factors described below.
The proposed offering of Notes is subject to general market
and other conditions and there are no assurances that the proposed
offering will be completed or that the terms of the offering will
not be modified. We disclaim any intention or obligation to
update any forward-looking statements, except as required by law,
even if new information becomes available, as a result of future
events or for any other reason.
If you would like to unsubscribe from receiving Press
Releases, you may do so by emailing info@russelmetals.com; or by
calling our Investor Relations Line: 905-816-5178.
SOURCE Russel Metals Inc.