RPM plans two-part sale of notes, with add-on to 5.25% notes due 2045

By Devika Patel

Knoxville, Tenn., Feb. 27 – RPM International Inc. is planning to price a two-part offering of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The sale includes an offering of fixed-rate notes due 2027 as well as an add-on to the company’s 5.25% notes (Baa3/BBB/BBB-) due June 1, 2045. The company sold $250 million of the 5.25% notes on May 29, 2015.

Both series of notes feature a make-whole call, with the 5.25% notes callable at Treasuries plus 25 basis points until Dec. 1, 2044, when they become callable at par.

BofA Merrill Lynch and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to repay some of the borrowings 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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