Essar Steel to start roadshow Tuesday for $325 million secured notes

By Paul A. Harris

St. Louis, Nov. 30 - Essar Steel Algoma Inc. will begin a roadshow on Tuesday for its $325 million offering of five-year first-lien senior secured notes, according to an informed source.

UBS Investment Bank is the bookrunner.

Proceeds from the Rule 144A and Regulation S offering will be used to repay bank debt.

Essar is a Sault Ste. Marie, Ont., integrated steel producer.

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