RPM International ends fiscal third quarter with $1.87 billion debt

By Lisa Kerner

Charlotte, N.C., April 8 – RPM International Inc. boasted record fiscal third-quarter sales of about $946 million, an increase of 9.6% from the prior-year period.

As of Feb. 28, RPM’s total liquidity, including cash and long-term committed available credit, was $648 million, according to chairman and chief executive officer Frank C. Sullivan.

Debt totaled $1.87 billion and included $450 million 524(g) trust payment from the revolving credit facility in December 2014. This compares to total debt of $1.39 billion a year ago and $1.35 billion at the end of fiscal 2014.

RPM repurchased 550,000 shares of its stock in the open market for $26 million during the third quarter.

Medina, Ohio-based RPM and its subsidiaries manufacture and market coatings, sealants and specialty chemicals.

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