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$205 Million Convertible Note Offering | 6 Months Ended
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Nov. 30, 2013
$205 Million Convertible Note Offering | NOTE 19 — $205 MILLION CONVERTIBLE NOTE OFFERING Subsequent to the current quarter, we sold $205 million of our 2.25% Convertible Senior Notes (the “Convertible Notes”) due December 15, 2020. In accordance with the agreement, we will pay interest on the Convertible Notes semi-annually on June 15 th and December 15 th of each year, beginning on June 15 th, 2014. The notes will be convertible under certain circumstances and during certain periods at an initial conversion rate of 18.8905 shares of RPM’s common stock per $1,000 principal amount of notes (representing an initial conversion price of approximately $52.94 per share of common stock), subject to adjustment in certain circumstances. Upon conversion, the notes may be settled, at our election, in cash, shares of RPM’s common stock, or any combination thereof. The net proceeds, totaling approximately $200.1 million, were used to repay $200.0 million in principal amount of unsecured senior notes due December 15, 2013, which had an interest rate of 6.25%, together with accrued and unpaid interest thereon. Since we refinanced this debt with proceeds received from our issuance of $205 million of 2.25% convertible notes due 2020, the senior notes were classified as long-term debt at November 30, 2013.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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