AK Steel Announces Offering of $380 Million of Senior Secured Notes and Cash Tender Offer for Its 8.750% Senior Secured Notes Due 2018

June 13, 2016

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WEST CHESTER, OH–(Marketwired – Jun 13, 2016) – AK Steel Holding Corporation (NYSE: AKS) (“AK Holding”) announced today that its subsidiary, AK Steel Corporation (“AK Steel”), has commenced a registered offering (the “Offering”) of $380.0 million aggregate principal amount of senior secured notes due 2023 (the “New Notes”). AK Steel intends to use the net proceeds of the offering, together with cash on hand and/or borrowings under its revolving credit facility, to finance AK Steel’s cash tender offer (the “Tender Offer”), also announced today, for any and all of AK Steel’s outstanding 8.750% Senior Secured Notes due 2018 (the “Old Notes”). The Offering will be made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.

Category: General