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People & Business :: Earnings/Finance
RPM refinances debt with convertible bonds
4:08 PM MST | December 2, 2013 | Vincent Valk
RPM is issuing $200 million in convertible bonds to pay down an equivalent amount of 6.25% bonds that were due later this month. The new bonds are convertible to cash, RPM stock, or some combination of the two “only upon specified events” prior to 15 June 2020. The specified events that could lead to a conversion were not disclosed. After 15 June 2020, the bonds can be converted into cash or RPM stock at any time. The interest rate and conversion rate have not yet been determined, RPM...
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