Commercial Metals Co.’s $350 million Notes Offering and $200 million delayed-draw term loan facility


Haynes and Boone, LLP successfully represented Commercial Metals Co. as issuer’s counsel in the acquisition financing for the Company’s previously announced acquisition of certain assets of the business, and certain outstanding common stock, belonging directly or indirectly to GNA Financing, Inc., a Delaware corporation, or certain of its subsidiaries and affiliates

Haynes and Boone represented Commercial Metals in securing the permanent financing for the acquisition, which consisted of (1) the private offering of $350 million of 5.750 percent senior notes due 2026, which closed on May 3, 2018 and (2) the execution of a $200 million delayed-draw term loan facility.

Commercial Metals Company and its subsidiaries, manufactures, recycles, and markets steel and metal products and related materials. The company, led by Barbara R Smith, Tracy L Porter and Mary A Lindsey, in 2017 recorded $4.569 Billion Revenues.

Partners Jennifer Wisinski (Picture) and Paul Amiel led the Haynes and Boone team representing Commercial Metals. They were assisted by Partners Sakina Foster and Monika Sanford and Associates Michael Pritchard, Chelsea Belote and Rachael Apfel.

Commercial Metals expects to use the net proceeds from the offering, together with the proceeds from the incurrence of the new term loan, to fund a portion of the purchase price, along with related fees and expenses, of the Acquisition.

Involved fees earner: Jennifer Wisinski – Haynes and Boone; Michael Pritchard – Haynes and Boone; Chelsea Belote – Haynes and Boone; Paul Amiel – Haynes and Boone; Sakina Rasheed – Haynes and Boone; Monika Sanford – Haynes and Boone;

Law Firms: Haynes and Boone;

Clients: Commercial Metals Company;

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Author: Ambrogio Visconti