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People & Business :: Earnings/Finance

RPM to Sell $150 Million in Debt (update)

3:19 PM MDT | May 24, 2011 | Vincent Valk

RPM International has announced plans to sell $150 million newly-issued debt. The debt will carry an interest rate of 6.125% and mature in October 2019. The notes are a part of a $300 million issuance, the first half of which was sold in October 2009. The deal is expected to close on May 27, with $162 million in proceeds going to RPM.   Moody's Investors Service (New York) has rated the debt 'Baa3.' "RPM's Baa3 rating incorporates our view that RPM is supported by relatively stable financial metrics and a diverse product portfolio," says Moody's...

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