Russel Metals set to early redeem all 6% senior notes due in March 2026

Chicago, April 2 – Russel Metals Inc. announced it will be redeeming early all C$150 million of outstanding 6% senior notes due March 16, 2026, according to a press release.

The notes will be redeemed on May 2 at par plus accrued interest.

The company will be using cash on hand.

"This redemption will substantially reduce Russel's interest expense while maintaining strong ongoing liquidity,” Martin L. Juravsky, executive vice president and chief financial officer, commented.

“In addition, this redemption sets the stage for other debt structure improvements,” he added.

The North American metals distribution company is based in Toronto.

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