U. S. Steel Prices $500 Million of Senior Unsecured Notes
12/07/2007 - United States Steel prices $500 million of 7.00% Senior Notes due 2018 at 99.087% of the principal amount.
United States Steel Corp. has priced $500 million of 7.00% Senior Notes due 2018. The Senior Notes were priced at 99.087% of the principal amount.
U.S. Steel said it will use proceeds of the offering to repay the $400-million one-year term loan that it incurred to finance a portion of the acquisition of Stelco Inc., which is now known as U. S. Steel Canada Inc.
Any remaining proceeds will be used for general corporate purposes.
The company cautions that this announcement does not constitute an offer to sell or the solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification.
Banc of America Securities LLC, J.P. Morgan Securities Inc. and Scotia Capital (USA) Inc. are joint book runners for this offering. United States Steel Corp. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (SEC) for this offering.
