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Sherwin-Williams calls all 7.375% notes due 2027, 7.45% debentures due 2097
By Mary-Katherine Stinson
Lexington, Ky., Nov. 1 – Sherwin-Williams Co. will redeem the entire outstanding amount from two series of notes, according to an 8-K filing with the Securities and Exchange Commission.
The company will redeem the entire $119,405,000 outstanding amount of its 7.375% senior notes due 2027 and the entire $3.5 million outstanding amount of its 7.45% debentures due 2097 on Dec. 6.
Both series of notes feature a make-whole call. The 2027 notes will be redeemed at a make-whole premium of Treasuries plus 10 basis points, while the 2097 debentures will be redeemed at Treasuries plus 15 bps.
In both cases, accrued interest from Aug. 1 to but excluding the redemption date will be paid.
Bank of New York Mellon is the trustee.
Sherwin-Williams is a Cleveland-based maker of paints and related products.
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