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US Steel driving by with $250 million eight-year notes Wednesday
By Paul A. Harris and Aleesia Forni
Virginia Beach, Va., March 20 - United States Steel Corp. is pricing $250 million eight-year senior notes (existing ratings B1/BB) on Wednesday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
The Pittsburgh-based integrated steel producer was scheduled to hold an investor call at 11 a.m. ET.
J.P. Morgan Securities LLC, Barclays, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners.
The SEC-registered notes will be non-callable for four years.
Proceeds will be used to repurchase or repay debt and for general corporate purposes.
There will also be a concurrent $250 million offering of convertible securities.
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