Hexcel prices $300M of 5.875% Senior Notes due 2035 to refinance 2025 notes

HEXCEL CORP /DE/

$300M aggregate principal of 5.875% senior notes due 2035 priced at 99.985% of par.
Net proceeds ~$298M to redeem all $300M outstanding of 4.70% Senior Notes due 2025.
Redemption of old notes scheduled for March 14, 2025, contingent on new notes closing.
Expected closing of new notes on February 26, 2025; joint book-runners: BofA, Goldman Sachs, J.P. Morgan.
Extends debt maturity from 2025 to 2035; annual interest cost rises from ~$14.1M to ~$17.6M.

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