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US Steel launches tender offers to purchase US$500M in senior notes

U.S. Steel Corp.said May 10 that it has launched tender offers to purchase for cash up to a totalof US$500 million aggregate principal amount of its outstanding 7.000% senior notesdue 2018, 7.375% senior notes due 2020 and 6.875% senior notes due 2021.

The 7.000% senior notes due 2018 are the first priority in thetender offers, with the company offering a consideration of US$1,020.00 per US$1,000principal amount.

The offer will close June 7.

On May 2, U.S. Steel announced a plan to offer US$500 million worth of senior secured debtdue 2021.