COLUMBUS, Ohio, Apr 08, 2010 (BUSINESS WIRE) --Worthington Industries, Inc. (NYSE:WOR) announced today its intent to
offer, subject to market and other conditions, $150 million aggregate
principal amount of senior notes due 2020. The notes will be general
senior unsecured obligations of the Company. The Company intends to use
the net proceeds from the offering to repay a portion of the outstanding
borrowings under its revolving credit facility and amounts outstanding
under its revolving trade accounts receivable securitization facility.
The joint book-running managers for the offering are Credit Suisse
Securities (USA) LLC and Wells Fargo Securities, LLC. The offering is
being made only by means of a prospectus and related prospectus
supplement.
Copies of the prospectus and the preliminary prospectus supplement
relating to the offering may be obtained by contacting (i) the Credit
Suisse Prospectus Department, One Madison Avenue, New York, NY 10010 or
by calling 1-800-221-1037; or (ii) Wells Fargo Securities, LLC Attn:
Syndicate Operations, 1525 West W.T. Harris Blvd., Charlotte, NC
28262-0675 or by calling 1-800-326-5897. The prospectus and the
preliminary prospectus supplement may also be obtained from the U.S.
Securities and Exchange Commission's web site at http://www.sec.gov.
A registration statement relating to the notes has been filed with the
Securities and Exchange Commission and has become effective. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sales of these securities in any
state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities law of any state.
Worthington Industries is a leading diversified metals manufacturing
company with 2009 fiscal year sales of approximately $2.6 billion. The
Columbus, Ohio based company is North America's premier value-added
steel processor and a leader of manufactured metal products. The
Company's manufactured metal products include: pressure cylinders
products such as propane, refrigerant, oxygen, hand torch and camping
cylinders, scuba tanks and helium balloon kits; light gauge steel
framing for commercial and residential construction; framing systems and
stairs for mid-rise buildings; suspension grid systems for concealed and
lay-in panel ceilings, current and past model automotive service
stampings; steel pallets and racks; and laser welded blanks. Worthington
employs approximately 6,300 people and operates 64 facilities in 11
countries.
Safe Harbor Statement
The Company wishes to take advantage of the Safe Harbor provisions
included in the Private Securities Litigation Reform Act of 1995 ("the
Act"). This press release includes "forward-looking statements" within
the meaning of the Act. All statements by the Company, other than
statements regarding historical information, included in this press
release that address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
constitute "forward looking statements" within the meaning of the Act.
These statements include the Company's plan to complete a public
offering of $150 million aggregate principal amount of senior notes. All
forward-looking statements are subject to a number of assumptions, risks
and uncertainties, many of which are beyond the control of the Company,
including the Company's ability to sell the senior notes, general
economic factors and other factors described in the Company's reports
filed with the Securities and Exchange Commission.
SOURCE: Worthington Industries, Inc.
Worthington Industries, Inc.
Cathy M. Lyttle, 614-438-3077
VP, Corporate Communications and Investor Relations
E-mail: cmlyttle@WorthingtonIndustries.com
or
Sonya L. Higginbotham, 614-438-7391
Director, Corporate Communications
E-mail: slhiggin@WorthingtonIndustries.com