United States Steel $350 million seven-year talked at 9½%-9¾%, pricing Wednesday

By Paul A. Harris

St. Louis, May 13 - Price talk of 9½%-9¾% emerged Tuesday on United States Steel Corp.'s upcoming $350 million of seven-year senior notes (B1/BB-), according to market sources.

The deal is expected to price Wednesday afternoon, the sources added.

JP Morgan and Goldman Sachs & Co. are joint bookrunners for the registered deal.

The notes are non-callable for four years.

Proceeds will be used to help fund the acquisition of National Steel's integrated assets.

The issuer is a Pittsburgh-based steel company.

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