United States Steel Announces Pricing on Senior Notes Offering
03/17/2010 - United States Steel Corp. announced the pricing of its public offering of $600 million aggregate principal amount of 7.375% Senior Notes due 2020. The notes were priced at 99.125% of the principal amount.
United States Steel Corp. announced the pricing of its public offering of $600 million aggregate principal amount of 7.375% Senior Notes due 2020. The notes were priced at 99.125% of the principal amount.
The notes will pay interest semi-annually in arrears at a rate of 7.375% per year and will mature on April 1, 2020, unless earlier repurchased. They will pay interest on April 1 and October 1 of each year beginning October 1, 2010.
BofA Merrill Lynch, Barclays Capital, Goldman, Sachs & Co., J.P. Morgan, and Morgan Stanley are the joint book-runners for this offering.
The offering was made pursuant to the company's shelf registration statement filed with the Securities and Exchange Commission. The company intends to use the net proceeds from the offering for general corporate purposes.
