Oregon Steel to start roadshow Wednesday for $300 million seven-year notes

By Paul A. Harris

St. Louis, Mo., June 25 - Oregon Steel Mills, Inc. will start the roadshow Wednesday for an offering of $300 million of first mortgage notes due 2009 (expected ratings B1/B+), according to a syndicate source. Pricing is expected on July 10.

Goldman Sachs & Co. is the bookrunner.

The Rule 144A notes are non-callable for four years.

Proceeds will be used to repay existing mortgage notes and borrowings under the company's credit facility.

The Portland, Ore.-based company produces steel plate and pipe through the Oregon Steel Division and the Rocky Mountain Steel Mills Division.

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