FORT WAYNE, INDIANA, August 31, 2012 – Steel Dynamics, Inc.
(NASDAQ/GS: STLD) today announced that it has redeemed for cash all of
its remaining outstanding 7¾% Senior Notes due 2016 (the “2016 Notes”)
at a price of 103.875% of the principal amount, together with accrued
interest to August 31, 2012 (the “Redemption Date”).
The 2016 Notes were issued in the original principal amount of
$500,000,000 pursuant to an Indenture dated as of April 3, 2008, as
supplemented and amended, among the Company, as Issuer, the guarantors
party thereto, and Wells Fargo Bank, N.A., as trustee.
As of August 30, 2012, and following the expiration of the offer to
purchase the 2016 Notes initiated by the Company on August 2, 2012
pursuant to which $410,462,000 aggregate principal amount of 2016 Notes
were tendered, $89,538,000 aggregate principal amount of 2016 Notes
remained outstanding. On and after the Redemption Date, the 2016 Notes
will no longer be deemed outstanding, interest will cease to accrue
thereon and all rights of the holder of the 2016 Notes will cease to
exist, except for the right to receive the redemption price, without
interest thereon.
The notice of redemption containing information required by the terms
of the Indenture was sent to registered holders of the Notes on August
23, 2012. Notes are to be surrendered to Wells Fargo Bank, N.A. as
trustee and paying agent, in exchange for payment of the redemption
price on the Redemption Date. Questions relating to redemption should be
directed to Wells Fargo Bank, N.A. at 1-800-344-5128 or by fax at
1-612-667-6282.
Forward-Looking Statement
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