Barnes & Thornburg Advises Municipal Bond Underwriters as Part of Hybar’s $1.1B Financing

Barnes & Thornburg represented the underwriting group in a municipal bond offering that was part of Hybar’s $1.1 billion financing. The proceeds will be used to finance a portion of the company’s expansion to significantly increase steel rebar production at its Osceola facility in Arkansas.

Hybar announced on June 26, 2026, that it raised $1.1 billion to build a second technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill immediately next to its existing rebar mill in northeast Arkansas.

The first mill began operating nine months ago. Construction of the second mill is expected to take 24 months. Once completed, Hybar is expected to produce approximately 1.3 million tons of rebar annually, representing just under 13% of the domestic market.

Founded in 2023, Hybar’s backers include TPG Rise Climate, Koch Minerals & Trading, Quant Services and Global Principal Partners. Hybar’s steel is used in projects across the country, including data centers, medical campus expansions, energy infrastructure and transportation improvements, such as roads, bridges and tunnels.

The municipal bond underwriting group included Goldman Sachs, Truist, Barclays and Crews & Associates.

The Barnes & Thornburg team was led by partner Kim Magrini and included partners Randy Towers, Megan McCarthy and Charlie Henck.