United States Steel Corporation Announces Pricing Of Senior Notes Offering
PITTSBURGH, Aug. 1, 2017 /PRNewswire/ -- United States Steel Corporation (NYSE: X) today announced the pricing of its $750,000,000 aggregate principal amount of 6.875% Senior Notes due 2025 (the "Notes"). The Notes were issued at a price equal to 100% of their face value. The Notes will pay interest semi-annually in arrears on February 15 and August 15 of each year beginning on February 15, 2018, and will mature on August 15, 2025, unless earlier redeemed or repurchased.
The Company intends to use the net proceeds from this offering, together with cash on hand, for the redemption of all of its 7.00% Senior Notes due 2018, its 6.875% Senior Notes due 2021, and its 7.50% Senior Notes due 2022 and the payment of related fees and expenses.
BofA Merrill Lynch, J.P. Morgan, Barclays, Morgan Stanley, PNC Capital Markets LLC, Wells Fargo Securities and Goldman Sachs & Co. LLC are acting as joint book-running managers for the Notes offering.
The Notes are being offered pursuant to an automatic shelf registration statement that became effective upon filing with the SEC on March 3, 2016. Before making an investment in the Notes, potential investors should read the prospectus supplement and the accompanying prospectus for more complete information about U. S. Steel and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, potential investors can obtain copies of these documents from: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn: Prospectus Department, firstname.lastname@example.org, 1-800-294-1322 (toll free); J.P. Morgan, 383 Madison Avenue, 3rd Floor, New York, New York 10179, Attn: Syndicate Desk, email@example.com, 1-800-245-8812 (toll free); Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, firstname.lastname@example.org, 1-888-603-5847 (toll free); Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, email@example.com, 1-866-718-1649; PNC Capital Markets LLC, 300 Fifth Avenue – 10th Floor, Pittsburgh, PA 15222, Attn: Debt Capital Markets, 1-412-249-0104; Wells Fargo Securities, LLC, 608 2nd Ave S, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, firstname.lastname@example.org, 1-800-645-3751 Opt 5 and Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Prospectus Department, email@example.com, 1-866-471-2526 (tel), 212-902-9316 (fax).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.
SOURCE United States Steel Corporation
For further information: Meghan Cox, T - (412) 433-6777, E - firstname.lastname@example.org; Analysts/Investors, Dan Lesnak, T - (412) 433-1184, E - email@example.com