Stagwell Raises $50M Via Institutional Offering Of Senior Notes

Stagwell Inc (NASDAQ:STGW) subsidiary, Midas OpCo Holdings LLC, priced an additional $50 million 5.625% senior unsecured notes due 2029…
  • Stagwell Inc (NASDAQ:STGW) subsidiary, Midas OpCo Holdings LLC, priced an additional $50 million 5.625% senior unsecured notes due 2029 in a secondary in a private institutional offering.
  • The offering proceeds will help to reduce credit facility borrowings and for general corporate purposes.
  • Midas recently raised $1 billion in a separate private offering.
  • Stagwell held $184.3 million in long-term debt as of Jun. 30.
  • Price Action: STGW shares traded lower by 1.05% at $6.58 on the last check Wednesday.
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