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Get filing alertsWorthington Steel launches $900M debt offering to fund Kloeckner acquisition
Filed May 26, 2026 · Period ending May 26, 2026 · ~1 min read
Key Changes
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Company raising $900 million through senior secured notes due 2033 via subsidiary WS Escrow LLC to finance acquisition of German steel company Kloeckner & Co SE, repay existing debt at both companies, and fund working capital.
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Debt offering will proceed regardless of whether Kloeckner acquisition closes, creating risk that Worthington could hold $900M in new debt without completing the deal if transaction falls through.
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Filed pro forma financials showing combined company balance sheet as of February 2026 and earnings for fiscal 2025 and nine months ended February 2026, giving investors visibility into expected financial impact of merger.
Item 9.01 verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · May 27, 2026 · How we verify