RPM plans to sell $300 million of fixed-rate notes due 2032; talk Treasuries plus 145 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Jan. 10 – RPM International Inc. intends to price $300 million of fixed-rate senior secured notes due 2032 (BBB/BBB-), according to a 424B5 filing with the Securities and Exchange Commission.

Price talk is in the Treasuries plus 145 basis points area, a market source told Prospect News.

The notes due Jan. 15, 2032 feature a make-whole call until three months prior to maturity and then a par call.

BofA Securities, Inc. and Goldman Sachs & Co. LLC are the bookrunners.

Proceeds will be used to repay some debt under the company’s revolving credit facility and for general corporate purposes.

RPM is a Medina, Ohio-based company that manufactures and markets specialty chemical products for industrial and consumer markets.

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