WestRock prices $1B of senior notes

|About: WestRock Company (WRK)|By:, SA News Editor

WRKCo Inc., a wholly owned subsidiary of WestRock Company (NYSE:WRK) has priced $500M of 3.900% senior notes due June 1, 2028 and $500M of 4.200% senior notes due June 1, 2032.

The company intends to use the net proceeds of the offering to redeem (on June 3, 2019) all of the $250M principal amount of WestRock MWV, LLC’s 7.375% notes due on September 1, 2019 and all of the $350M principal amount of WestRock RKT, LLC’s 3.500% notes due March 1, 2020, to reduce outstanding indebtedness under a term loan and commercial paper program and for general corporate purposes.

The offering is expected to close on May 20.

Subscribe for full text news in your inbox