Bristol aerospace and industrial distributor-manufacturer Barnes Group said it has agreed to sell $100 million in debt to support future growth and diversify its balance sheet.
The senior unsecured notes, which will be issued Friday, carry a fixed rate of 3.97 percent and are due in Oct. 2024. Barnes described the terms of the long-term private debt placement as favorable and said it expands the capacity of its existing $750 million credit facility with a group of banks.
As of June 30, Barnes had $251.2 million unused and available for borrowings under that agreement, it said in its second-quarter earnings report in July.
