Wednesday, May 9, 2012


BlueScope announces repurchase of $305.4 million of US Private Placement Notes

BlueScope Steel Limited today announced that it has successfully closed a partial tender offer to repurchase US$300.0 million of its US Private Placement Notes at par plus accrued interest, and upon receipt of acceptances up-sized the repurchase to US$305.4 million.
The repurchase will be funded in US dollars using existing undrawn lines under the Company’s syndicated bank facility, as is expected to result in a reduction of the Company’s annual interest expense of approximately US$20 million per annum. 

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