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Commercial Metals Company Announces Closing Of Tax-Exempt Bond Financing With Proceeds Of $150.0 Million

Commercial Metals Company Announces Closing Of Tax-Exempt Bond Financing With Proceeds Of $150.0 Million

02/22/22, 4:15 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgirving
Commercial Metals Company (NYSE: CMC) ("CMC") announced today the closing of the previously announced sale of $145.1 million in original aggregate principal amount of Exempt Facilities Revenue Bonds (Commercial Metals Company Project), Series 2022 (the "Bonds"), issued by the Industrial Development Authority of the County of Maricopa (the "MCIDA"). The sale of the Bonds provided proceeds of $150.0 million, which CMC has borrowed from MCIDA pursuant to a loan agreement, and CMC will use such proceeds to finance a portion of the costs of the construction of its previously announced third micro mill, to be located in Mesa, Arizona.

Company Info

Company
Commercial Metals Company
Location
irving, texas, united states
Additional Info
Commercial Metals Company and its subsidiaries manufacture, recycle and fabricate steel and metal products, and provide related materials and services through a network of facilities that includes seven electric arc furnace ("EAF") mini mills, two EAF micro mills, one rerolling mill, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the United States and Poland.