Steel Dynamics Sells $350 Million in Notes
03/18/2010 - Steel Dynamics completes the sale of $350 million aggregate principal amount of its 7 5/8% Senior Notes due 2020.
Steel Dynamics, Inc. has completed the sale of $350 million aggregate principal amount of its 7 5/8% Senior Notes due 2020.
The notes were sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to persons outside the United States pursuant to Regulation S.
The company had announced the offering last week, saying that it planned to sell approximately $300 million in notes. The company also said it would use net proceeds from the sale to repay amounts outstanding under its senior secured revolving credit facility and for general corporate purposes, which could include debt repayment, capital expenditures, working capital and acquisitions.
