FORT WAYNE, Ind., June 16, 2014 /PRNewswire/ -- Steel
Dynamics, Inc. (NASDAQ/GS: STLD) today announced that holders of
$271,810,000 principal amount of its
5.125% Convertible Notes due June 15,
2014 (the "Notes") have exercised their option to convert
the Notes into shares of common stock by the close of business on
June 12, 2014 (the conversion
election deadline). The conversion rate provided under the terms of
the Notes was 58.4371 shares of common stock per $1,000 principal amount of Notes, equivalent to a
conversion price of approximately $17.10 per share of common stock. Steel Dynamics
issued a total of 15,893,457 shares of common stock upon conversion
of the Notes. The remaining $15,690,000 in outstanding principal amount of
the Notes was paid in cash on June 16,
2014.
The Notes were issued in the original principal amount of
$287,500,000 pursuant to an Indenture
dated as of June 9, 2009, as supplemented and amended (the
"Indenture"), among the company, as Issuer, the guarantors party
thereto, and Wells Fargo Bank, National Association as trustee.
About Steel Dynamics, Inc.
Steel Dynamics, Inc. is one of the largest domestic steel
producers and metals recyclers in the
United States based on estimated annual steelmaking and
metals recycling capability, with annual sales of $7.4 billion in 2013, over 6,800 employees, and
manufacturing facilities primarily located throughout the United States (including five steel mills,
six steel processing facilities, two iron production facilities,
over 90 metals recycling locations and six steel fabrication
plants).
SOURCE Steel Dynamics, Inc.