LXU - LSB Industries trades 10% down on launching $175M in senior notes offering

LSB Industries (NYSE:LXU) plans to offer $175M in principal amount of its 6.250% Senior Secured Notes due 2028 for sale in a private offering to eligible purchasers. The notes constitute a further issuance of the 6.250% senior secured notes due 2028, of which $500M principal amount was issued on Oct. 14, 2021. Net proceeds to be used for pursuing strategic acquisition opportunities, to fund organic growth (including debottlenecking to increase production capacity and other growth projects) and for general corporate purposes. Pending such application of the net proceeds of this offering, they may be invested in highly rated money market funds, U.S. government securities, treasury bills or short-term commercial paper.

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LSB Industries trades 10% down on launching $175M in senior notes offering