COMMERCIAL METALS Co (CMC): debt financing — CMC closes $150M tax-exempt bond financing at 4.625% for WV solid waste project

COMMERCIAL METALS Co

Borrowed $150M from West Virginia Economic Development Authority via Solid Waste Disposal Facilities Revenue Bonds, Series 2025.
Bonds bear interest at 4.625% per annum, mature April 15, 2055; semiannual interest payments start Oct 15, 2025.
Proceeds used to finance construction of solid waste disposal facilities in Berkeley County, West Virginia.
CMC's obligations under the loan agreement are senior unsecured; bonds may be redeemed early at prescribed prices after May 15, 2030.
Mandatory tender for purchase on May 15, 2032, at 100% of principal plus interest.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

COMMERCIAL METALS Co incurred loan of $150.0 million with West Virginia Economic Development Authority at semiannual interest payments on the outstanding principal of the Bonds on April maturing April 15, 2055.

Instrument: loan
Principal: $150.0 million
Counterparty: West Virginia Economic Development Authority
Rate: semiannual interest payments on the outstanding principal of the Bonds on April
Maturity: April 15, 2055
Event: incurrence

Exact text from the filing

On May 15, 2025, Commercial Metal Company (the “ Company ”) entered into a Loan Agreement dated as of May 1, 2025 (the “ Loan Agreement ”) with the West Virginia Economic Development Authority (the “ Issuer ”) whereby the Issuer loaned $150.0 million in proceeds from the sale of Solid Waste Disposal Facilities Revenue Bonds (Commercial Metals Company Project), Series 2025 in the aggregate principal amount of $150.0 million (the “ Bonds ”) to the Company to finance a portion of the costs of the construction of solid waste disposal facilities located in Berkeley County, West Virginia.

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Source: SEC EDGAR

accession 0001193125-25-120839

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