Ryerson Tull to launch $150 million seven-year note offering

By Paul A. Harris

St. Louis, Nov. 29 - Ryerson Tull will start a roadshow Tuesday for its $150 million offering of seven-year senior notes (B2/B), according to a market source.

Pricing is expected during the week of Dec. 6.

JP Morgan and UBS Investment Bank will be joint bookrunners for the Rule 144A/Regulation S offering.

The notes will be guaranteed by Ryerson Procurement Corp. and come with four years of call protection.

Proceeds will be used to repay the company's revolving credit facility, which was drawn to fund the acquisition of Integris Metals Inc.

Ryerson Tull is a Chicago-based processor and distributor of metals.

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