Steel Dynamics to sell $100 million convertibles

New York, Dec. 16 - Steel Dynamics, Inc. said it will sell $100 million of convertible subordinated notes due 2012 in a Rule 144A offering.

There will be a $25 million greenshoe.

The Fort Wayne, Ind. steelmaker will use proceeds to repay debt under its senior secured credit facilities.

No further details were available on the deal, which was announced late Monday.

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