United States Steel plans redemption of all 9¾% notes

By Jennifer Chiou

New York, May 16 - United States Steel Corp. said it intends to redeem all of its 9¾% senior notes due 2010 using proceeds from a proposed $900 million offering of senior unsecured notes.

The Pittsburgh-based integrated steel producer said that remaining proceeds will go toward a portion of the Lone Star Technologies, Inc. acquisition and for general corporate purposes.

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