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US Steel prices US$980M debt

U.S. Steel Corp.priced its US$980 million aggregate principal amount of 8.375% senior secured notesdue 2021, according to a May 3 release.

The notes will be issued at a price equal to 100% of their facevalue. The notes will pay interest semiannually in arrears on Jan. 1 and July 1of each year, beginning Jan. 1, 2017.

The notes will mature July 1, 2021, unless redeemed or repurchasedearlier.

The company will use the proceeds to repay debt, prioritizingnear-term liabilities, and for general corporate purposes.