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Algoma Steel to start roadshow for $450 million notes via UBS
By Paul A. Harris and Sara Rosenberg
St. Louis, May 25 - Algoma Steel Inc. will begin a roadshow during the post-Memorial Day week for a $450 million offering of senior unsecured notes, according to a market source.
UBS Investment Bank will lead the deal.
The Sault Ste. Marie, Ont.-based steel producer will also put in place an $850 million credit facility.
Proceeds will be used to help fund Indiana-based Essar Steel Holdings Ltd.'s acquisition of the company for C$1.85 billion.
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