Optima Specialty Steel to sell $200 million six-year secured notes

By Paul A. Harris

Portland, Ore., Nov. 18 - Optima Specialty Steel, Inc. will conduct an investor roadshow for its $200 million offering of six-year senior secured notes until Nov. 30, according to an informed source.

Jefferies & Co. has the books for the Rule 144A for life offering.

The notes come with three years of call protection.

Credit ratings remain to be determined.

Proceeds, together with $34.9 million of sponsor equity from Optima Acquisitions, LLC, will be used to fund the acquisition of Buffalo, N.Y.-based steel bar producer Niagara Lasalle Corp.

Optima Specialty Steel is an Akron, N.Y.-based steel products manufacturer.

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