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    May 26, 2026

    Worthington launches $900M notes offering for Kloeckner buy

    Written by Ethan Bernard

    Worthington Steel said on Tuesday its subsidiary plans to raise $900 million through a senior secured notes offering to raise funds for the company’s pending Kloeckner acquisition.

    The Columbus, Ohio-based service center group will execute the offering through WS Escrow LLC, a wholly owned subsidiary of Worthington Steel. The offering is subject to market conditions and other factors. And the principal amount of senior secured notes will be due in 2033.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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