AK Steel to redeem 9%, 8 7/8% notes

Pittsburgh, Oct. 26 - AK Steel Corp. will redeem its outstanding $117 million 9% senior notes due September 2007 and its outstanding $33 million 8 7/8% senior notes due December 2008, according to a company news release.

The redemptions will take place in December and will reduce outstanding debt by about $150 million and annual interest expense by about $14 million.

AK Steel is a Middletown, Ohio-based specialty steelmaker.

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