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TORONTO, Nov. 4, 2015 /CNW/ – Russel Metals Inc. (RUS – TSX) today announced that it has completed its previously announced redemption of all of its outstanding 7.75% convertible unsecured subordinated debentures due September 30, 2016 (the “Debentures“). As at the close of trading on November 3, 2015, the aggregate principal amount of Debentures outstanding was $174,323,000.
In accordance with their terms, holders were paid a total redemption price of $1,007.43 per $1,000 principal amount of Debentures which was equal to the outstanding principal amount of the Debentures plus accrued and unpaid interest thereon up to, but excluding the redemption date. The Debentures, which traded under the symbol RUS.DB, have halted trading and were delisted from the Toronto Stock Exchange at the close of markets today.
About Russel Metals
Russel Metals is one of the largest metals distribution companies in North America. It carries on business in three metals distribution segments: metals service centers, energy products and steel distributors, under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Alberta Industrial Metals, Apex Distribution, Apex Monarch, Apex Remington, Apex Western Fiberglass, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Siemens Laserworks, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
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SOURCE Russel Metals Inc.