Multi-State United States Steel to price $195.67 million of bonds

By Sheri Kasprzak

New York, Oct. 26 - The Multi-State United States Steel Corp. is slated to price $195.67 million of series 2011 revenue refunding bonds on behalf of the United States Steel Corp., according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Morgan Stanley & Co. LLC as the senior manager. The co-managers are Barclays Capital Inc. and Citigroup Global Markets Inc.

The offering includes the following:

• $55 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Indiana Finance Authority;

• $28.8 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Allegheny County Industrial Development Authority of Pennsylvania;

• $19.815 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Bucks County Industrial Development Authority of Pennsylvania;

• $10.6 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Gulf Coast Waste Disposal Authority of Texas;

• $21.8 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Ohio Water Development Authority;

• $10.16 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Ohio Air Quality Development Authority;

• $32.375 million of series 2011 non-AMT environmental improvement revenue refunding bonds through Utah County, Utah; and

• $17.12 million of series 2011 non-AMT environmental improvement revenue refunding bonds through the Industrial Development Board of the City of Fairfield, Ala.

The due dates are as follows: Indiana Finance bonds are due Dec. 1, 2019; Allegheny bonds are due Dec. 1, 2027; Bucks County bonds are due June 1, 2026; Gulf Coast bonds are due Sept. 1, 2017; Ohio Water bonds are due May 1, 2029; Ohio Air bonds are due Nov. 1, 2015; Utah County bonds are due Nov. 1, 2017; and Fairfield bonds are due June 1, 2015.

Proceeds from the offering will be used to refund bonds issued through the authorities, counties and other entities for the benefit of United States Steel Corp.

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