Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029
Algoma Steel Group Inc. (ASTL)
Company Research
Source: GlobeNewswire
SAULT STE. MARIE, Ontario, March 26, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, Algoma Steel Inc. (“ASI”), has priced its previously announced offering of US$350 million aggregate principal amount of 9.125% Senior Secured Second Lien Notes due 2029 (the “Notes”). The Notes will be issued at a price of 100% of their face amount, for gross proceeds of US$350 million, and will bear interest at the rate of 9.125% per year. The Notes will be guaranteed on a senior secured basis by ASI’s immediate parent company and all of ASI’s subsidiaries. ASI intends to use the net proceeds from the offering of the Notes for general corporate purposes, adding strength and flexibility to its balance sheet. The offering of the Notes is expected to close on or about April 5, 2024, subject to customary closing co
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ASTL
News
- CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory HolidayGlobeNewswire
- Junk Issuers Rush to Refinance With Spreads Lowest Since 2022 [BNN Bloomberg (Canada)]BNN Bloomberg
- Algoma Steel Inc. Announces Proposed Offering of US$350 Million of Senior Secured Second Lien Notes due 2029 [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Algoma Steel Inc. Announces Proposed Offering of US$350 Million of Senior Secured Second Lien Notes due 2029 [Yahoo! Finance]Yahoo! Finance
ASTL
Earnings
- 8/10/23 - Beat
ASTL
Sec Filings
- 4/10/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/26/24 - Form 6-K
- ASTL's page on the SEC website