Stelco Announces Update Regarding Proposed Private Offering of Senior Secured Notes by Stelco Inc.
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HAMILTON, ON, Sept. 23, 2019 /CNW/ - Stelco Holdings Inc. ("Stelco" or the "Company") (TSX: STLC) today announced that, due to current bond market conditions, its wholly-owned subsidiary, Stelco Inc. ("Stelco Inc.") has withdrawn its proposed offering of approximately US$300 million in aggregate principal amount of senior secured notes.
About Stelco
Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. Stelco produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products. With first-rate gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, our steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States as well as to a variety of steel services centres, which are regional distributers of steel products.
SOURCE Stelco
For investor enquiries: Don Newman, Chief Financial Officer, Stelco, 905-577-4432, [email protected]; For media enquiries: Trevor Harris, Vice-President, Corporate Affairs, Stelco, 905-577-4447, [email protected]
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