AK Steel plans to price $400 million 10-year senior notes Tuesday

By Paul A. Harris

St. Louis, April 26 - AK Steel Corp. will host an investor call at 10:30 a.m. ET on Tuesday for its $400 million offering of 10-year senior notes, according to an informed source.

The deal is set to price Tuesday afternoon.

Credit Suisse and Bank of America Merrill Lynch are the joint bookrunners for the public deal.

The notes come with five years of call protection and have a 101% poison put.

Proceeds will be used to fund the tender for AK Steel's 7¾% senior notes due 2012.

The company is a West Chester, Ohio-based producer of flat-rolled carbon, stainless and electrical steels and tubular products.

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