Commercial Metals Company Announces Proposed $150M Tax-Exempt Bond Financing
02/01/22, 4:15 PM
Location
Money raised
$150 million
Commercial Metals Company (NYSE: CMC) ("CMC") announced today a proposed tax-exempt bond financing in the amount of $150.0 million. In connection with the proposed financing, the Industrial Development Authority of the County of Maricopa (the "MCIDA") authorized the issuance and sale of Exempt Facilities Revenues Bonds (Commercial Metals Company Project), Series 2022 (the "Bonds"). If the financing is completed, MCIDA will issue the Bonds and loan the proceeds of the sale of the Bonds to CMC pursuant to a loan agreement between CMC, as borrower, and MCIDA, as lender. The loan proceeds will be used to finance a portion of the costs of the construction of CMC's previously announced second steel micro mill in Mesa, Arizona
Company Info
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.