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Essar Steel Minnesota begins consent bid for $450 million 11½% notes
By Susanna Moon
Chicago, June 23 – Essar Steel Minnesota LLC said it began a consent solicitation for its $450 million principal amount outstanding of 11½% senior secured notes due 2020.
The solicitation will end at 5 p.m. ET on June 26.
Credit Suisse Securities (USA) LLC (800 820-1653 or 212 325-2544 collect) is the solicitation agent. D.F. King & Co., Inc. (800 549-6650, 212 269-5550 banks and brokers and 212 493-6940 (confirmation) and esml.investorrelations@essar.com) is the tabulation agent.
The iron ore producer in northern Minnesota, part of India-based Essar Group, plans to use the proceeds to complete construction on its facility and begin commercial operations.
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