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A description of long-term debt follows:
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The aggregate maturities of long-term debt for the five
years subsequent to May 31, 2007 are as follows: 2008 -
$101.6 million (including $100.0 million unsecured Notes);
2009 - $66.3 million; 2010 - $194.2 million; 2011 - $0.3 million;
2012 - $273.3 million (including $150.0 million of 2.75% Senior
Convertible Notes); and thereafter $352.4 million. Additionally,
at May 31, 2007, we had unused lines of credit totaling
$320.2 million.
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In June 2002, we established an accounts receivable
securitization program with several banks for certain of our
subsidiaries, providing for a wholly-owned special purpose
entity (“SPE”) to receive investments of up to $125.0 million.
The securitized accounts receivable are owned in their entirety
by RPM Funding Corporation, a wholly-owned consolidated
subsidiary of RPM International Inc., and are not available to
satisfy claims of our creditors until the participating banks’
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