Steelcase will raise $250 million through a sale of notes, Reuters reports. The notes, which carry a coupon rate of 6.375%, are due to mature on Feb. 15, 2021. The office furniture company intends to use the income to repay the remaining aggregate principal amount of its 6.5% senior notes due August 15, 2011. It has appointed Bank of America Merrill Lynch and JP Morgan as the joint bookrunning managers for the transaction.
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