By Sheri Kasprzak
New York, Feb. 6 - The AK Steel Holding Corp. sold $73.3 million of series 2012 revenue refunding bonds through three different issuers, according to pricing sheets.
The sale included $36 million of series 2012A bonds priced through the Ohio Air Quality Development Authority, $30 million of series 2012A bonds sold through the City of Rockport, Ind., and $7.3 million of series 2012A bonds offered through the Butler County Industrial Development Authority of Pennsylvania.
The Ohio bonds are due June 1, 2024 with a 6.75% coupon priced at par. The Rockport, Ind., bonds are due June 1, 2028 with a 7% coupon priced at par, and the Butler County bonds are due June 1, 2020 with a 6.25% coupon priced at par.
Wells Fargo Securities LLC and Bank of America Merrill Lynch were 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.
| Issuer: | AK Steel Holding Corp./Ohio Air Quality Development Authority/Rockport, Ind./Butler County Industrial Development Authority
|
| Issue: | Series 2012A refunding revenue bonds
|
| Amount: | $73.3 million
|
| Type: | Negotiated
|
| Underwriters: | Wells Fargo Securities LLC, Bank of America Merrill Lynch
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 7
|
|
|
| $36 million series 2012A bonds through Ohio Air Quality Development Authority
|
| Maturity | Type | Coupon | Price
|
| June 1, 2024 | Term | 6.75% | 100
|
|
|
| $30 million series 2012A bonds through Rockport, Ind.
|
| Maturity | Type | Coupon | Price
|
| June 1, 2028 | Term | 7% | 100
|
|
|
| $7.3 million series 2012A bonds through Butler County Industrial Development Authority, Pa.
|
| Maturity | Type | Coupon | Price
|
| June 1, 2020 | Term | 6.25% | 100
|
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