8-K filed June 2, 2026, 5:06 PM ET ticker WS CIK 0001968487

debt confidence high sentiment neutral materiality 0.75

Worthington Steel prices $700M 7.75% notes due 2033 and $700M term loan for Klöckner acquisition

Worthington Steel, Inc.

Issued $700M 7.750% senior secured notes due 2033; $700M term loan B at SOFR+4.00% or base rate+3.00%.
Note offering decreased from $900M, term loan increased from $500M; proceeds fund Klöckner acquisition.
Klöckner acquisition expected to close on June 3, 2026, at €11.00 per share cash consideration.
Notes subject to special mandatory redemption at 100% if acquisition not completed by March 12, 2027.
Revolving credit facility amended to align collateral; no financial covenant in term loan.

item 1.01 item 2.03 item 8.01 item 9.01

Machine-readable event card

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accession: 0001193125-26-253821
form_type: 8-K
ticker: WS
cik: 0001968487
company_name: Worthington Steel, Inc.
filed_at: 2026-06-02T21:06:49+00:00
discovered_at: 2026-06-02T21:08:00.319448+00:00
generated_at: 2026-06-02T21:08:51.607041+00:00
sec_items: ["1.01", "2.03", "8.01", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.75
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Source-grounded claims

861a73ecbec29ce81def62de6eab624da5fe41e4

Worthington Steel, Inc. incurred senior notes of $700,000,000 aggregate principal amount with Deutsche Bank Trust Company Americas at 7.750% per annum maturing June 1, 2033.

On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

c766c9f3cc64a7c5855206915c3f8a1a427ec847

Worthington Steel, Inc. incurred term loan of $700,000,000 with Wells Fargo, National Association maturing seven-year senior secured term loan B credit facility.

provides for a seven-year senior secured term loan B credit facility in aggregate principal amount of $700,000,000

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

272fad25ca8243f772f79e7dfa190cc0f93fc38c

Worthington Steel, Inc. entered into Indenture with Deutsche Bank Trust Company Americas valued at $700,000,000 aggregate principal amount (effective 2026-06-01).

On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033 (the " Notes ," and such offering, the " Note Offering ") pursuant to an indenture (the " Indenture "), dated as of June 1, 2026, among the Company, as issuer, the guarantors from time to time party thereto (the " Note Guarantors ") and Deutsche Bank Trust Company Americas, as trustee and notes collateral agent.

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

a43e72c50fec4b329aed8bfe7a1a0b4396035261

Worthington Steel, Inc. entered into Credit Agreement with Wells Fargo, National Association valued at $700,000,000 (effective 2026-06-01).

On June 1, 2026, the Company entered into a term loan credit agreement (the " Credit Agreement "), among the Company, as borrower, the lenders from time to time party thereto, and Wells Fargo, National Association, as administrative agent.

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033 (the " Notes ," and such offering, the " Note Offering ") pursuant to an indenture (the " Indenture "), dated as of June 1, 2026, among the Company, as issuer, the guarantors from time to time party thereto (the " Note Guarantors ") and Deutsche Bank Trust Company Americas, as trustee and notes collateral agent.

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033

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On June 1, 2026, the Company issued $700,000,000 aggregate principal amount of its 7.750% Senior Secured Notes due 2033 (the " Notes ," and such offering, the " Note Offering ") pursuant to an indenture (the " Indenture "), dated as of June 1, 2026, among the Company, as issuer, the guarantors from time to time party thereto (the " Note Guarantors ") and Deutsche Bank Trust Company Americas, as trustee and notes collateral agent.

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Source: SEC EDGAR

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