Steelcase to Issue $450.0 Million of Senior Notes

Steelcase Inc. (SCS) announced that it has agreed to sell $450.0 million aggregate principal amount of 5.125% senior notes due January 18, 2029 in an underwritten public offering in which J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers. The company intends to use a portion of the net proceeds from the offering to fund the redemption of its 6.375% Senior Notes due 2021, of which $250 million in the aggregate principal amount is outstanding, and related fees and expenses. The company intends to use the remaining net proceeds for general corporate purposes. The offering is expected to close on January 18, 2019, subject to market conditions and other factors.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”).  A preliminary prospectus supplement, together with an accompanying prospectus, relating to the offering has been filed with the SEC and is available on the SEC's website, http://www.sec.gov.