Steel Dynamics purchases $266.21 million 6 1/8% notes in tender offer, calls remainder

By Marisa Wong

Morgantown, W.Va., Dec. 6 – Steel Dynamics, Inc. said it received tenders from holders of $266,209,000, or about 67%, of its $400 million outstanding 6 1/8% senior notes due 2019 in the tender offer that expired at 5 p.m. ET on Dec. 5.

The company had offered to purchase all of the notes at $1,033.88 per $1,000 principal amount plus accrued interest, as announced on Nov. 29.

The company accepted the tendered notes for purchase on Tuesday, according to a press release.

The company said it has called for redemption all of the remaining notes that were not purchased under the tender offer. The outstanding notes will be redeemed on Jan. 5 at 103.063 plus accrued interest.

Completion of the tender was subject to, among other things, a financing condition. Steel Dynamics priced $400 million of new notes on Nov. 29, as previously reported.

BofA Merrill Lynch (888 292-0070 or 980 387-9534) is dealer manager. D. F. King & Co., Inc. (877 871-1741 or 212 269-5550) is information agent.

Steel Dynamics is a Fort Wayne, Ind., steelmaker and metals recycler.

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