PITTSBURGH, July 31, 2017 /PRNewswire/ -- United States
Steel Corporation (NYSE: X) (the "Company" or "U. S. Steel") today
announced its intention to offer, subject to market and other
conditions, $750 million aggregate
principal amount of senior notes due 2025 (the "Notes").
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 proposed
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 preliminary prospectus
supplement, the accompanying prospectus and the related free
writing 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,
dg.prospectus_requests@baml.com, 1-800-294-1322 (toll free); J.P.
Morgan, 383 Madison Avenue, 3rd Floor, New York, New York 10179, Attn: Syndicate
Desk, hy_syndicate@restricted.chase.com, 1-800-245-8812 (toll
free); Barclays, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York
11717, barclaysprospectus@broadridge.com, 1-888-603-5847 (toll
free); Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor,
New York, NY 10014, Attn:
Prospectus Department, prospectus@morganstanley.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,
wfscustomerservice@wellsfargo.com, 1-800-645-3751 Opt 5; and
Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282, Prospectus Department,
prospectus-ny@ny.email.gs.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.
Cautionary Statement
All statements included in this press release, other than
historical information or statements of historical fact, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Words such as, but not limited to,
"believes," "expects," "anticipates," "estimates," "intends,"
"plans," "could," "may," "will," "should," and similar expressions
are intended to identify forward-looking statements. All
forward-looking statements rely on a number of assumptions,
estimates and data concerning future results and events and are
subject to a number of uncertainties and other factors, many of
which are outside the Company's control that could cause actual
results to differ materially from those reflected in such
statements. Accordingly, U. S. Steel cautions that the
forward-looking statements contained herein are qualified by these
and other important factors and uncertainties that could cause
results to differ materially from those reflected by such
statements. For more information on the potential factors, please
review U. S. Steel's filings with the SEC, including, but not
limited to, U. S. Steel's Annual Report on Form 10-K, its Quarterly
Reports on Form 10-Q and its Current Reports on Form 8-K.
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SOURCE United States Steel Corporation