Steel Dynamics Announces Completion of Notes Offering
10/15/2007 - Steel Dynamics consummates an unsecured note offering, proceeds of which would be used to support the company's planned acquisition of OmniSource.
Steel Dynamics, Inc. has consummated an unsecured note offering of $700 million of 73/8% Senior Notes due 2012.
The company says it will use net proceeds from the Notes to finance the company's planned acquisition of OmniSource Corp. and to repay a portion of the amounts outstanding under its senior secured revolving credit facility.
In the event that the OmniSource acquisition is not consummated, the company says that net proceeds of the sale would be used to repay indebtedness outstanding under its senior secured credit facilities, and for general corporate purposes.
These debt securities were offered in a transaction exempt from the registration requirements of the Securities Act of 1933 and have not been registered under the Securities Act of 1933, or any state securities laws, and may not be offered or sold in the United States, absent registration under, or an applicable exemption from, the registration requirements of the Securities Act of 1933 and applicable state laws.
The company notes that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any debt securities; or an offer, solicitation or sale of any debt securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
