AK Steel announces pricing of $400 million senior notes offering

AK Steel will pay interest on the notes semi-annually on May 15th and November 15th of each year, beginning on November 15, 2010. The notes will be fully and unconditionally guaranteed on a senior unsecured basis by AK Holding. AK Steel intends to use the net proceeds from the sale of the notes, together with cash on hand, to finance AK Steel's cash tender offer and consent solicitation, announced on April 26, 2010, for any and all of AK Steel's outstanding 7 ^3/4 percent Senior Notes due 2012. The offering is expected to close on May 11, 2010, subject to customary closing conditions.