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Steel Dynamics Completes Notes Offering
04/04/2008 - Steel Dynamics completes its unsecured note offering of $375 million of 7-3/4% Senior Notes due 2016.
Steel Dynamics, Inc. has completed its unsecured note offering of $375 million of 7-3/4% Senior Notes due 2016. The Notes were offered in a transaction exempt from the registration requirements of the Securities Act of 1933.
The company said it will use net proceeds from the notes to repay amounts outstanding under its senior secured revolving credit facility, and for general corporate purposes.
Steel Dynamics also announced completion of an amendment to its senior secured credit facility on March 31, 2008, that increased commitments under its revolving credit facility to $124 million. Funding under the term loan A facility was also increased $94 million.
The company noted that this announcement does not constitute an offer to sell or a solicitation of an offer to buy any debt securities. The information also does not constitute an offer, solicitation or sale of any debt securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
