AK Steel (AKS) Unit to Offer $250M of Senior Notes
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AK Steel Holding Corporation (NYSE: AKS) reports that its subsidiary, AK Steel Corporation ("AK Steel"), has commenced a registered offering (the "Offering") of $250 million aggregate principal amount of senior notes due 2022 (the "Notes"). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by AK Holding. AK Steel intends to use the net proceeds of the Offering to repay borrowings under its revolving credit facility. The Offering is being made pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.
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