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Lincoln Electric Holdings (LECO) just unveiled an update.
Lincoln Electric Holdings, Inc. has entered into a Note Purchase Agreement to issue $550 million in senior unsecured notes with varying interest rates and maturity dates spanning from 2024 to 2034. The company used the proceeds from the Series C notes to fully repay and terminate its previous credit agreement. Additionally, Lincoln Electric has secured a new revolving credit facility of up to $1 billion, with the provision to increase by $300 million, which replaces their prior credit arrangements. This strategic financial restructuring is aimed at optimizing the company’s borrowing costs and flexibility.
See more insights into LECO stock on TipRanks’ Stock Analysis page.