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Steel Dynamics to Offer $300 Million in Notes
03/28/2008 - Steel Dynamics announces plans to sell approximately $300 million in aggregate principal amount of debt securities in a transaction that would be exempt from the Securities Act of 1933, but would be subject to market and other conditions.
Steel Dynamics, Inc. announced plans to sell approximately $300 million in aggregate principal amount of debt securities. The transaction would be exempt from the registration requirements of the Securities Act of 1933, but would be subject to market and other conditions.
The company said it plans to use net proceeds from the sale to repay amounts outstanding under its senior secured revolving credit facility and for general corporate purposes.
Steel Dynamics said it is negotiating an amendment to its senior secured credit facility that would allow it to increase existing commitments under the credit facility by approximately $150 to $250 million in the aggregate. The company said it expects to amend the senior secured credit facility by the end of the month.
Steel Dynamics noted that this announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities. The securities will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act of 1933 and applicable state securities laws.
