August 28, 2008

SDI announces completion of notes offering

Steel Dynamics Inc announced that it has consummated an unsecured note offering of USD 375 million of 73⁄4% Senior Notes due 2016. The net proceeds from the Notes will be used to repay amounts outstanding under its senior secured revolving credit facility and for general corporate purposes.

SDI also announced the completion of an amendment to its senior secured credit facility on March 31st 2008, pursuant to which commitments under the revolving credit facility increased USD 124 million and funding under the term loan A facility increased USD 94 million.

It said that the Notes were offered in a transaction exempt from the registration requirements of the Securities Act of 1933 and have not been registered under the Securities Act of 1933 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 of 1933 and applicable state laws.