Steel Dynamics (STLD) Completes $600M Notes Offering

Steel Dynamics, Inc. (NASDAQ: STLD) announced today that it has consummated the sale of $600 million aggregate principal amount of 5.375% Notes due 2034 (the "Notes"). The net proceeds from the Notes will be used for general corporate purposes, which may include repayment of the company's $400 million 2.800% Senior Notes due December 2024.

"We are pleased with the execution and support for our investment grade note offering," stated Theresa E. Wagler, Executive Vice President and Chief Financial Officer. "This transaction is an important part of our long-term strategy to provide a strong capital foundation in support of our teams, customers, shareholders, and our continued growth. We remain committed to maintaining our investment grade credit ratings, which we believe provide lower-cost and longer-term capital, allowing for long-term strength, optionality, and value creation opportunities."

This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities, and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, and PNC Capital Markets LLC are acting as joint book-running managers for the offering of the Notes.

You May Also Be Interested In