🔒CT manufacturer to refinance $400M in debt with new bond issue

Stamford-based advanced materials manufacturer Hexcel Corp. plans to issue $400 million in new debt to refinance existing obligations, according to a filing with the Securities and Exchange Commission. Hexcel said it will use the proceeds to pay off its 3.95% senior notes due in 2027, which total $400 million, along with related fees. The new notes will mature in 2031 and carry an interest rate of about 4.9%, replacing lower-cost debt issued when borrowing rates were lower. The move effectively extends the company’s repayment timeline by four years. Hexcel manufactures advanced composite materials used in aircraft, defense systems and industrial applications.