Worthington Enterprises repays $150M 4.60% Senior Notes due 2024 using Separation Dividend

WORTHINGTON ENTERPRISES, INC.

On Dec 6, 2023, repaid $150M principal plus $498k accrued interest on 4.60% Senior Notes due Aug 10, 2024.
Funds came from $150M cash distribution received from Worthington Steel in connection with its separation.
Note Agreement with Prudential and affiliates terminated; no early termination fees or penalties.
No further monetary obligations remain under the Note Agreement.
Notes were originally issued Aug 2012; carried 4.60% coupon, maturing Aug 10, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

WORTHINGTON ENTERPRISES, INC. terminated Note Agreement with The Prudential Insurance Company of America, Pruco Life Insurance Company of New Jersey, Pruco Life Insurance Company, Prudential Arizona Reinsurance Universal Company, Prudential Annuities Life Assurance Corporation, The Prudential Life Insurance Company, Ltd. and The Gibraltar Life Insurance Co., valued at $150 million principal plus $498,333.36 accrued interest; terminated in full (effective 2023-12-06).

Action: termination
Agreement: notes offering
Counterparty: The Prudential Insurance Company of America, Pruco Life Insurance Company of New Jersey, Pruco Life Insurance Company, Prudential Arizona Reinsurance Universal Company, Prudential Annuities Life Assurance Corporation, The Prudential Life Insurance Company, Ltd. and The Gibraltar Life Insurance Co.,
Value: $150 million principal plus $498,333.36 accrued interest; terminated in full
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, the Registrant used the Separation Dividend to pay the 2024 Senior Notes in full, which consisted of $150 million in principal and $498,333.36 in accrued interest, and thereby terminated the Note Agreement.

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WORTHINGTON ENTERPRISES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-069698

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