Russel Metals to start roadshow Monday for $175 million 10-year notes

By Paul A. Harris

St. Louis, Feb. 5 - Russel Metals Inc./RMI USA LLC will hold a roadshow Monday through Feb. 13 for a $175 million offering of 10-year notes (Ba3/BB-), market sources said.

Citigroup is the bookrunner on the Rule 144A offering.

The notes will mature in 2014 and will come with five years of call protection.

Proceeds will be used to fund the tender for $115.6 million of units made up of 10% senior notes due 2009 and to repurchase the company's 7½% Class II preferred shares and 8% subordinated debentures due June 15, 2006.

The company is a Toronto-based metals distributor.

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