Steel Dynamics redeems $198.31 million of 6¾% senior notes due 2014

By Tali David

Minneapolis, April 9 - Steel Dynamics, Inc. redeemed all $198,306,000 of its remaining 6¾% senior notes due 2014 that were not purchased on the early settlement date in connection with the previously announced tender offer, according to a press release.

The notes were redeemed at par plus accrued interest on April 9.

As previously reported, the company had received tenders from holders of $301,694,000 principal amount of the notes as of the early tender date. It offered $1,003.75 per $1,000 principal amount of notes, which included an early tender payment of $30.00 for each note tendered by the early tender date.

The tender offer began March 12, the early tender date was March 25, and the early settlement date was March 26.

Bank of New York Mellon Trust Co., NA is the trustee and paying agent.

Steel Dynamics is a Fort Wayne, Ind.-based manufacturer and seller of steel products.

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