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AK Steel $550 million 10-year notes talked at 8% area, pricing late Thursday
By Paul A. Harris
St. Louis, Mo., June 5 - Price talk of a yield in the 8% area emerged Wednesday on AK Steel Corp.'s planned offering of $550 million of senior notes due 2012 (B1/BB), according to a syndicate source. The deal will price late Thursday.
Credit Suisse First Boston is the bookrunner. Goldman Sachs & Co. is co-manager.
The Rule 144A notes are non-callable for five years.
The Middleton, Ohio steel producer will use proceeds to refinance its $550 million 9 1/8% senior notes due 2006.
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