secwatch.observer — SEC 8-K summary
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Issuer:     WORTHINGTON ENTERPRISES, INC. (WOR)
CIK:        0000108516
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0000950170-24-063929
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Worthington Enterprises issues €91.7M in new senior notes to replace existing subsidiary debt
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- Issued €36.7M 2.06% Series A Note due 2031 and €55M 2.40% Series B Notes due 2034 to Prudential in a private placement.
- Notes exchanged for equal principal amounts of existing notes issued by Worthington Luxembourg and Worthington Cylinders GmbH.
- Existing notes, note agreement, and company guaranty terminated upon exchange.
- Senior notes rank equally with existing unsecured unsubordinated debt; financial covenants include leverage ratio ≤55% and interest coverage ≥3.25x.
- Maturities: Series A Note due Aug 23, 2031 (with €30M due Aug 23, 2029); Series B Notes due Aug 23, 2034 (with €23.3M due Aug 23, 2031).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/108516/000095017024063929/0000950170-24-063929-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/108516/000095017024063929/wor-20240517.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-063929

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