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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