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Stelco Holding Proposed Private Offering of Senior Secured Notes Due 2024 by Stelco Inc

Steel News - Published on Wed, 18 Sep 2019

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Stelco Holdings Inc announced that its wholly owned subsidiary, Stelco Inc intends, subject to market and other conditions, to offer approximately USD 300 million in aggregate principal amount of senior secured notes due 2024. The Notes will be offered by a syndicate of initial purchasers by way of a private placement under applicable securities laws. Stelco Inc. intends to use the net proceeds from the offering for capital expenditures and general corporate purposes, which may include potential acquisitions, joint ventures and strategic alliances or distributions to the Company.

The Notes will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canada, directly or indirectly, other than pursuant to applicable prospectus exemptions.

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Posted By : Rabi Wangkhem on Wed, 18 Sep 2019
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