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Steel Dynamics Shares Dip 1% on Offering of Senior Notes

Steel Dynamics Inc. ( STLD ) plans to sell approximately $400 million 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. The company intends to use the proceeds of the offering, along with available cash, to purchase any and all of its Senior Notes due 2015, and to pay fees and expenses associated with the tender offer and consent solicitation.

STLD is down 1.3% at $15.64, near the high in a 52-week range of $10.11 - $16.16.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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