Steel Dynamics completed a $1 billion notes offering, issuing $600 million in 5.250% notes due 2035 and $400 million in 5.750% notes due 2055. Net proceeds of $972 million will be used for general corporate purposes, including debt repayment, acquisitions, and stock repurchases. The notes, issued under an existing indenture with U.S. Bank Trust Company, are senior unsecured obligations. Interest is payable semi-annually starting November 15, 2025. Redemption options include early repayment with a premium and a par call feature before maturity. The offering was underwritten by J.P. Morgan, Morgan Stanley, Goldman Sachs, and PNC Capital Markets.
Wall Street
2025-03-12
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