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Steel Dynamics $200 million seven-year notes talked at 9½%-9¾%, pricing Thursday
By Paul A. Harris
St. Louis, Mo., March 13 - Price talk of 9½%-9¾% emerged Wednesday on Steel Dynamics, Inc.'s offering of $200 million senior notes due 2009 (B2/B), according to a syndicate official who added that the deal is expected to price Thursday afternoon.
Morgan Stanley is bookrunner and J.P. Morgan is co-manager.
The Rule 144A notes are non-callable for four years.
The company will use the proceeds to repay bank debt and for general corporate purposes.
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