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Algoma to start roadshow Monday for $450 million eight-year notes
By Paul A. Harris
St. Louis, June 1 - Algoma Steel Inc. will begin a roadshow on Monday for a $450 million offering of eight-year senior unsecured notes, according to an informed source.
The roadshow is set to conclude on June 13, with the notes expected to price that afternoon.
UBS Investment Bank will lead the Rule 144A and Regulation S with registration rights deal.
The notes will come with four years of call protection.
Credit ratings remain to be determined.
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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