FORT WAYNE, INDIANA, March 27, 2008— Steel Dynamics, Inc. (NASDAQ:
STLD) announced today that it plans to sell approximately $300 million
in aggregate principal amount of debt securities in a transaction exempt
from the registration requirements of the Securities Act of 1933,
subject to market and other conditions. Steel Dynamics intends to use
the net proceeds from the sale of these debt securities to repay amounts
outstanding under its senior secured revolving credit facility and for
general corporate purposes.
Steel Dynamics also announced that it is currently negotiating an
amendment to its senior secured credit facility pursuant to which it
expects to increase existing commitments under the credit facility by
approximately $150 to $250 million in the aggregate. Steel Dynamics
currently expects to amend the senior secured credit facility in March
2008.
This announcement is neither an offer to sell nor a solicitation of
an offer to buy these securities. The securities will not be registered
under the Securities Act of 1933, as amended, or any state securities
laws, and unless so registered, may not be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act of 1933 and applicable state
securities laws.
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