AK Steel buys back $23.1 million 7¾% notes due 2012 at discount during first quarter

By Angela McDaniels

Tacoma, Wash., May 5 - AK Steel Corp. repurchased $23.1 million principal amount of its 7¾% senior notes due 2012 for $19.8 million during the first quarter.

Parent company AK Steel Holding Corp. reported the repurchases in its 10-Q report for the first quarter, which was filed with the Securities and Exchange Commission Tuesday.

The repurchases were made using existing cash.

The company said it may continue to make cash repurchases of its outstanding notes from time to time though open-market purchases, privately negotiated transactions or other means.

AK Steel is based in West Chester, Ohio, and produces flat-rolled carbon, stainless and electrical steels and tubular products.

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