US Steel today announced its intention to offer, subject to market and other conditions, $500 million aggregate principal amount of senior secured notes due 2021.
The Company intends to use the net proceeds from the offering for the repayment of outstanding debt, focusing on near-term maturities, and any remaining proceeds for general corporate purposes.
The notes proposed to be offered have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to any US persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
The notes proposed to be offered have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to any US persons absent registration under the Securities Act, or pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
The notes will be offered only to "qualified institutional buyers" under Rule 144A of the Securities Act or, outside the United States, to persons other than "US persons" in compliance with Regulation S under the Securities Act.