secwatch.observer — SEC 8-K summary
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Issuer:     Worthington Steel, Inc. (WS)
CIK:        0001968487
Form:       8-K
Filed at:   2026-06-02T21:06:49+00:00
Accession:  0001193125-26-253821
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1968487/000119312526253821/0001193125-26-253821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1968487/000119312526253821/d435492d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-253821

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