Wise financing deal gives Ala. agency option for stake

Oct 04, 2007 | 07:53 AM | Paul Schaffer

Wise Metals Group LLC has entered a financing deal that opens the door to an Alabama agency gaining a 25-percent stake in the company.

Wise said Thursday it has obtained $75 million in financing from Retirement Systems of Alabama through a new convertible preferred equity transaction. As part of the arrangement, the state-sponsored entity has the option of later converting its new securities into....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results