FORT WAYNE, Ind., Sept. 13, 2017 /PRNewswire/ -- Steel
Dynamics, Inc. (the "Company") (NASDAQ/GS: STLD) announced today that as of 5:00 p.m., New York City time, on September 12, 2017 (the "Expiration Time"), it had
received tenders from holders of $182,872,000 in aggregate principal amount of its 6.375%
Senior Notes due 2022 (the "2022 Notes"), representing approximately 52% of the outstanding 2022 Notes, in connection
with the Company's previously announced cash tender offer (the "Offer").
The Company expects to recognize aggregate pretax charges of approximately $15 million, related
to tender and call premiums and the associated write-off of non-cash deferred bond fees and other associated expenses.
The Company has made payments with respect to any 2022 Notes accepted for purchase on September
13, 2017. For each $1,000 principal amount of 2022 Notes tendered on or before
the Expiration Time, the Company paid $1,035.63 plus accrued and unpaid interest.
Additionally, the Company announced today that it has called for redemption all of its remaining 2022 Notes that were not
purchased in connection with the Offer. The redemption date for the remaining outstanding 2022 Notes will be
October 13, 2017. The redemption price for the remaining outstanding 2022 Notes will be at
103.188%, plus accrued and unpaid interest to, but not including, the redemption date. On and after the redemption date, the
2022 Notes will no longer be deemed outstanding, interest will cease to accrue thereon and all rights of any remaining
holders of 2022 Notes will cease to exist, except for the right to receive the redemption price, without interest thereon.
The notice of redemption containing information required by the terms of the indenture, dated as of August
16, 2012, as supplemented and amended, governing the 2022 Notes, was sent to registered holders of the 2022 Notes on
September 13, 2017. The 2022 Notes are to be surrendered to Wells Fargo Bank, National
Association, as trustee and paying agent, in exchange for payment of the redemption price on the redemption date.
Questions relating to redemption should be directed to Wells Fargo Bank, National Association at (800) 344-5128 or by fax at
(612) 667-6282.
This press release is for informational purposes only and is not an offer to purchase or a solicitation of an offer to
purchase with respect to any of the 2022 Notes or any other securities, and shall not constitute an offer, solicitation or
sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Steel Dynamics, Inc.
Steel Dynamics, Inc. is one of the largest domestic steel producers and metals recyclers in the
United States based on estimated annual steelmaking and metals recycling capability, with facilities located throughout
the United States, and in Mexico. Steel Dynamics produces steel products, including hot
roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold
finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the Company
produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
Forward-Looking Statements
This press release contains certain predictive statements that are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements included in this press release that address activities,
events or developments that the Company expects, believes or anticipates will or may occur in the future are forward‑looking
statements. These include statements regarding the Offer, payments thereunder and results therefrom. These statements
are based on the Company's current expectations and projections about future events and involve known and unknown risks,
uncertainties, and other factors that may cause the Company's actual results and performance to be materially different from any
future results or performance expressed or implied by these forward‑looking statements.
More specifically, we refer you to the Company's detailed explanation of these and other factors and risks that may cause such
predictive statements to turn out differently, as set forth in our most recent Annual Report on Form 10-K, in our quarterly
reports on Form 10-Q or in other reports which we from time to time file with the Securities and Exchange Commission, available
publicly on the SEC website, www.sec.gov .
Forward-looking or predictive statements we make are based upon information and assumptions, concerning our businesses and the
environments in which they operate, which we consider reasonable as of the date on which these statements are made. Due to
the foregoing risks and uncertainties however, as well as, matters beyond our control which can affect forward-looking
statements, you are cautioned not to place undue reliance on these predictive statements, which speak only as of the date of this
press release. We undertake no duty to update or revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
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SOURCE Steel Dynamics, Inc.