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RPM prices convertible bonds

11:03 AM MST | December 4, 2013 | Vincent Valk

RPM has priced the convertible bonds it issued earlier this week with a 2.25% annual interest rate, the company says. The bonds will be convertible into 18.905 shares of RPM common stock, which represent a 37% premium on RPM’s $38.64/share closing price as of 3 December. The issuance is expected to close on 9 December, and proceeds from it will go towards paying down higher-interest debt that was due this...

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