Valspar Refinances Debt

Valspar has issued $400 million in new debt maturing in 2022. Half of the proceeds will go toward refinancing $200 million in debt that will come due on May 1 of this year. The new debt carries an interest rate of 4.2%, lower than the 5.625% rate of the maturing debt. Valspar will also use a portion of the proceeds to repay commercial paper borrowings.   Standard & Poor’s (S&P; New York) has rated the debt ‘BBB,’ while Moody’s (New York) has rated it ‘Baa2.’ “The ratings on Valspar reflect the company's solid...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers