Steel Dynamics starts roadshow Tuesday for $200 million seven-year notes via Morgan Stanley

By Paul A. Harris

St. Louis, Mo., Feb. 27 - Steel Dynamics, Inc. will begin a roadshow Tuesday for an offering of $200 million senior notes due 2009 (expected ratings B2/B), according to a syndicate source.

Pricing is expected on March 14, the syndicate source said.

Morgan Stanley is sole bookrunner for the Rule 144A offering, according to the source, who added that J.P. Morgan is co-manager and that other banks will possibly emerge as syndicate members.

The notes are non-callable for four years.

The company will use the proceeds to repay bank debt and for general corporate purposes.

The Fort Wayne, Ind. mini-mill steel producer sells its products directly to end-users and steel service centers primarily in the Midwestern US.

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