HARRISBURG, Pa., Sept. 8, 2003 (PRIMEZONE) -- Worldwide industrial services and products company Harsco Corporation (NYSE: HSC) announced today that it has agreed to sell a new issue of senior notes in the aggregate principal amount of $150 million. The notes are being issued at 99.713%, will bear interest of 5.125% and will mature on September 15, 2013. The notes are being offered to the public in a firm-commitment underwritten offering. The managing underwriters of the offering are Citigroup Global Markets, J.P. Morgan Securities, The Royal Bank of Scotland, SunTrust Capital Markets, and Wachovia Capital Markets. The offering is expected to close on September 12, 2003.
The Company intends to use the proceeds of the offering toward repayment of its $150 million in principal amount 6% notes due September 15, 2003. This refinancing will result in a reduction of approximately $1.3 million in the Company's annual interest expense.
The notes will be sold pursuant to a registration statement that has been declared effective by the Securities and Exchange Commission. The notes are only offered by means of the prospectus related to this offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. A copy of the prospectus may be obtained from: Citigroup Global Markets Inc., 140 58th Street, Brooklyn, New York 11220, Attention: Prospectus Department, or by facsimile request at 718-765-6734.
Harsco Corporation is a diversified industrial services and products company employing approximately 17,500 people in more than 40 countries of operation. Harsco's market-leading businesses provide mill services, access services, gas and fluid control products, and other infrastructure products and services to customers worldwide. Additional information about Harsco can be found at www.harsco.com.
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