trending Market Intelligence /marketintelligence/en/news-insights/trending/icwracbefvmzgrpnkghpsa2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

US Steel cuts debt by US$483.9M after notes buyback

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

US Steel cuts debt by US$483.9M after notes buyback

U.S. Steel Corp. closed the cash tender offer to buy back its 8.375% senior secured notes due 2021 with about US$483.9 million aggregate principal amount of the notes validly tendered for repurchasing, the company said March 20.

An additional US$15.2 million of the notes remain subject to guaranteed delivery procedures, and the company will redeem the remaining outstanding notes April 12. Holders of these remaining notes will receive the "make-whole" redemption price plus accrued and unpaid interest.

The buyback program was funded through a US$650 million offering of 6.250% senior notes due 2026.