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Steel Dynamics tenders for $350 million of 6 3/8% notes due 2022
By Susanna Moon
Chicago, Sept. 6 – Steel Dynamics, Inc. is tendering for its $350 million principal amount of 6 3/8% senior notes due 2022.
The purchase price will be $1,035.63 per $1,000 principal amount plus accrued interest up to but excluding the settlement date of Sept. 13, according to a company announcement.
The tender offer will remain open until 5 p.m. ET on Sept. 12.
BofA Merrill Lynch (888 292-0070 or 980 387-9534) is the dealer manager. D.F. King & Co., Inc. (877 283-0318 or 212 269-5550) is the information agent.
Steel Dynamics planned to price $350 million of eight-year notes in a Wednesday drive-by, trailing a late-morning conference call with investors, with proceeds to be used to tender or redeem its 6 3/8% senior notes due 2022, as reported by Prospect News on Wednesday.
Steel Dynamics is a Fort Wayne, Ind.-based steel producer and metals recycler.
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