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AK Steel launches US$300 million senior notes offering
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It’s reported that AK Steel, the subsidiary of AK Holding has successfully priced a public offering of US$300 million of 8.375% senior notes due 2002. The scale of offering was raised to US$300 million from the previous US$250 million.
Meanwhile, the interest on the newly issue notes will accrue from March 22nd, 2012. Also, the new notes will guarantee on a senior unsecured basis by AK Holding fully and unconditionally.
It’s known that AK Steel plans to use the new proceeds from the sale of the note to repay the borrowings under the revolving credit facility.
The company expects to close the offering on March 22nd, 2012.
News Date
3/22/2012 8:50:26 AM
reported by
Ruth Wang
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