LOS ANGELES--(BUSINESS WIRE)--
Reliance Steel & Aluminum Co. (NYSE: RS) announced today that it has
entered into an underwriting agreement for the sale of $500 million
principal amount of its 4.500% Senior Notes due 2023 at an issue price
of 99.585%. The notes will be guaranteed by Reliance’s subsidiaries that
guarantee its credit agreement and its senior notes due 2016 and 2036.
Reliance intends to use the net proceeds to finance a portion of its
pending acquisition of Metals USA Holdings Corp. If Reliance does not
consummate its acquisition of Metals USA on or prior to December 15,
2013, the merger agreement with Metals USA is terminated at any time
prior thereto or Reliance determines in its reasonable judgment that the
acquisition will not occur, Reliance will be required to redeem all of
the notes at a purchase price in cash equal to 101% of their aggregate
principal amount, plus accrued and unpaid interest. The offering is
expected to close on April 12, 2013.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Wells Fargo Securities, LLC acted as joint book-running
managers of the offering.
The offering is being made only by means of a prospectus supplement and
an effective registration statement (including a prospectus), which have
been filed with the SEC. A copy of the prospectus supplement and
accompanying prospectus for the offering may be obtained by contacting
J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate Desk,
383 Madison Avenue, New York, New York 10179, by phone at
1-212-834-4533, or by fax at 1-212-834-6081; or Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Attention: Prospectus Department, 222
Broadway, 7th Floor, New York, New York 10038, by email at dg.prospectus_requests@baml.com,
or by phone at 1-800-294-1322; or Wells Fargo Securities, LLC,
Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd.,
NC0675, Charlotte, North Carolina 28262, by email at cmclientsupport@wellsfargo.com,
or by phone at 1-800-326-5897. Alternatively, you may get these
documents for free by visiting the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein, and
shall not constitute an offer, solicitation or sale in any state or
other jurisdiction in which such an offer, solicitation or sale would be
unlawful.
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California,
is the largest metals service center company in North America (U.S. and
Canada). Through a network of more than 240 locations in 38 states and
10 countries outside of the United States, the Company provides
value-added metals processing services and distributes a full line of
over 100,000 metal products to more than 125,000 customers in a broad
range of industries.
Forward-Looking Statements
Certain statements in this press release may constitute
“forward-looking” statements, as defined under the Private Securities
Litigation Reform Act of 1995. Words such as “expects,” “anticipates,”
“intends,” “plans,” “projects,” “believes,” “estimates,” “forecasts” and
similar expressions are used to identify these forward-looking
statements. Forward-looking statements in this press release include,
but are not limited to, statements concerning the proposed acquisition
of Metals USA Holdings Corp., the anticipated amount and terms of the
offering and whether the offering will be completed. Forward-looking
statements are based upon assumptions as to future events that may not
prove to be accurate. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to predict. Actual outcomes and results may differ materially
from what is expressed or forecasted in these forward-looking statements
as a result of various important factors, including, but not limited to,
those disclosed in Reliance’s reports on file with the SEC. As a result,
these statements speak only as of the date that they were made, and
Reliance undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Additional risks and uncertainties relating
to the offering, Reliance and its business can be found in Reliance’s
Annual Report on Form 10-K for the year ended December 31, 2012 and in
the preliminary prospectus supplement relating to the offering filed
with the SEC and in the prospectus supplement relating to the offering
to be filed with the SEC.
Reliance Steel & Aluminum Co.
Brenda Miyamoto
Investor
Relations
213-576-2428
investor@rsac.com
or
Addo
Communications
310-829-5400
Source: Reliance Steel & Aluminum Co.