It is a good thing and not unexpected. They are simply paying off debt due in 2023 and these sn notes are not due til 2026. There is no dilution and the terms are very favorable. Just a good solid normal business move.
This replacement financing will save RFP roughly $3.7million per year in debt payments! That is Eps of about 5cents! The fact the notes are at 4.875% says they are investment grade and RFP is strong.
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