FORT WAYNE, Ind., Dec. 14, 2016 /PRNewswire/ -- Steel
Dynamics, Inc. (NASDAQ/GS: STLD) today announced that it has repaid
in full its senior secured term loan in the principal amount of
$228,125,000 under the Company's
Senior Secured Credit Facility dated November 14, 2014, using available
cash.
"Combined with the success of our recent Senior Note
refinancing, this debt repayment further establishes a strong
capital structure and credit profile to support our continued
growth," stated Theresa E. Wagler,
Executive Vice President and Chief Financial Officer. "The combined
transactions are expected to reduce our annual interest expense by
approximately $10 million in
2017."
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 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 SDI'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, 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.