AK Steel plans $73.3 million revenue refunding bonds via three issuers

By Sheri Kasprzak

New York, Jan. 18 - The AK Steel Holding Corp. is expected to price $73.3 million of series 2012A revenue refunding bonds through the Ohio Air Quality Development Authority of Ohio; the City of Rockport, Ind.; and the Butler County Industrial Development Authority of Pennsylvania, according to a preliminary official statement.

The offering includes $36 million of bonds through the Ohio authority, $30 million of bonds through Rockport and $7.3 million of bonds through the Butler County authority.

The Ohio bonds are due June 1, 2024, the Rockport bonds are due June 1, 2028 and the Butler County bonds are due June 1, 2020.

Wells Fargo Securities LLC and Bank of America Merrill Lynch are the senior managers.

Proceeds will be used to refund all of the corporation's outstanding Ohio, Indiana and Pennsylvania revenue bonds within 90 days of issuance.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.