U.S. Steel to redeem part of 10¾%, 9¾% notes

New York, March 9 - United States Steel Corp. said it will redeem $187.25 million principal amount of its 10¾% senior notes due 2008 and $71.5 million principal amount of its 9¾% senior notes due 2010 on April 19.

In both cases the Pittsburgh steel company is exercising the equity claw provision that allows it to redeem up to 35% of the outstanding notes with proceeds from an underwritten primary public offering of common stock.

Funding for the redemption will come from U.S. Steel's recently completed common stock offering.

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