Valmont to redeem all $250.2 million 6.625% notes due 2020 on July 9

By Sarah Lizee

Olympia, Wash., June 11 – Valmont Industries, Inc. will redeem all $250.2 million of its outstanding 6.625% senior notes due April 20, 2020 on July 9, according to a press release.

The notes will be redeemed at a redemption price equal to par plus a make-whole premium calculated using a discount rate of Treasuries plus 45 basis points plus accrued interest to the redemption date.

The company will fund the redemption with proceeds from an issuance of $200 million of 5% senior notes due 2044, $55 million of 5.25% senior notes due 2054 and available cash.

Omaha-based Valmont makes engineered products and services for infrastructure and mechanized irrigation equipment for agriculture.

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