Steel Dynamics coming to high yield market with $200 million

By Paul A. Harris

St. Louis, Mo., Feb. 26--Steel Dynamics, Inc. announced Tuesday that it is proposing a new Rule 144A issue of $200 million of senior notes due 2009, according to a press release.

The company intends to use the net proceeds to repay borrowings under existing credit facilities and for general corporate purposes.

The Fort Wayne, Ind. mini-mill steel producer sells its products directly to end-users and steel service centers primarily in the Midwestern US, according to Tuesday's release.

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