FORT WAYNE, Ind., Dec. 6, 2016 /PRNewswire/ -- Steel Dynamics, Inc.
(the "Company") (NASDAQ/GS: STLD) announced today that it has
consummated the sale of $400 million
aggregate principal amount of its 5.000% Senior Notes due 2026 (the
"2026 Notes") in a private offering, exempt from the registration
requirements of the Securities Act of 1933, as amended (the
"Securities Act"), to qualified institutional buyers under Rule
144A of the Securities Act and to persons outside the United States pursuant to Regulation S.
The net proceeds from the 2026 Notes will be used along with cash
on hand to purchase any and all of the $400
million principal amount of its 6.125% Senior Notes due 2019
(the "2019 Notes") that are validly tendered in connection with the
Company's previously announced cash tender offer (the "Tender
Offer"), and to redeem, repurchase or satisfy and discharge any
2019 Notes not purchased in the Tender Offer (in each case,
including paying any accrued interest) in accordance with the
indenture governing the 2019 Notes and pay related fees and
expenses.
The issuance of the 2026 Notes and retirement of the 2019 Notes,
when fully consummated will enable Steel Dynamics to meaningfully
extend its debt maturity profile and reduce its interest
expense.
The 2026 Notes have not been registered under the Securities
Act, or any state securities laws, and may not be offered or sold
in the United States, absent
registration under, or an applicable exemption from, the
registration requirements of the Securities Act and applicable
state laws.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy the 2026 Notes or any other securities, and
shall not constitute an offer, solicitation or sale of any
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful.
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 facilities located throughout
the United States and in
Mexico. Steel Dynamics produces steel products, including hot
roll, cold roll, and coated sheet steel, structural steel beams and
shapes, rail, engineered special-bar-quality steel, cold finished
steel, merchant bar products, specialty steel sections and steel
joists and deck. In addition, the company produces liquid pig
iron and processes and sells ferrous and nonferrous scrap.
Forward-Looking Statements
This press release contains certain predictive statements that
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements
included in this press release that address activities, events or
developments that the Company expects, believes or anticipates will
or may occur in the future are forward‑looking statements.
These include statements regarding the use of proceeds from the
offering. These statements are based on the Company's current
expectations and projections about future events and involve known
and unknown risks, uncertainties, and other factors that may cause
the Company's actual results and performance to be materially
different from any future results or performance expressed or
implied by these forward‑looking statements.
More specifically, we refer you to the Company's detailed
explanation of these and other factors and risks that may cause
such predictive statements to turn out differently, as set forth in
our most recent Annual Report on Form 10-K, in our quarterly
reports on Form 10-Q or in other reports which we from time to time
file with the Securities and Exchange Commission. These are
available publicly on the SEC Web site, www.sec.gov.
Forward-looking or predictive statements we make are based upon
information and assumptions, concerning our businesses and the
environments in which they operate, which we consider reasonable as
of the date on which these statements are made. Due to the
foregoing risks and uncertainties however, as well as, matters
beyond our control which can affect forward-looking statements, you
are cautioned not to place undue reliance on these predictive
statements, which speak only as of the date of this press release.
We undertake no duty to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
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SOURCE Steel Dynamics, Inc.