FORT WAYNE, INDIANA, January 26, 2012 / PRNewswire / Steel Dynamics,
Inc. (NASDAQ/GS: STLD) today announced that its previously announced
cash tender offer (the “Tender Offer”) for up to $350 million of the
$700 million aggregate principal amount of its 7 3/8% Senior Notes due
2012 (the “Notes”) expired at 11:59 p.m., New York City time, on January
25, 2012 (the “Expiration Date”).
On January 11, 2012 (the “Early Settlement Date”), the Company
announced it had received tenders from holders of $278,470,000 in
aggregate principal amount of the Notes, representing approximately
39.78% of the aggregate principal amount of the Notes outstanding at the
time the Tender Offer was commenced, at or prior to 5:00 p.m., New York
City time, on January 10, 2012 (the “Early Tender Deadline”). The
Company accepted for purchase all of such Notes on the Early Settlement
Date and made payment for such Notes on January 12, 2012.
An additional $1,250,000 aggregate principal amount of the Notes were
validly tendered after the Early Tender Deadline and on or prior to the
Expiration Date pursuant to the Tender Offer, resulting in a total of
$279,720,000 aggregate principal amount of the Notes tendered pursuant
to the Tender Offer, or approximately 39.96% of the aggregate principal
amount of the Notes outstanding at the time the Tender Offer was
commenced. The Company accepted for purchase and payment, and will make
payment for, all of such additional Notes today.
The remaining $420,280,000 aggregate principal amount of the Notes
that were not tendered and purchased pursuant to the Tender Offer remain
outstanding and holders thereof are subject to the terms of the
Indenture under which the Notes were issued, dated as of October 12,
2007, as amended by a First Supplemental Indenture dated as of February
1, 2008 and by a Second Supplemental Indenture dated as of September 24,
2008.
BofA Merrill Lynch acted as the exclusive dealer manager for the
Tender Offer. D.F. King & Co., Inc., acted as the Information Agent
and Depository for the Tender Offer.
Forward Looking Statements
Contact: Theresa E. Wagler, Chief Financial Officer, +1.260.969.3500 |