Ispat Inland offers $800 million in senior notes
09 March 2004 - 11:30PM
PR Newswire (US)
Ispat Inland offers $800 million in senior notes EAST CHICAGO,
Ind., March 9 /PRNewswire/ -- Ispat Inland Inc. intends to raise
$800 million through a private offering of senior secured notes.
The placement is currently anticipated to consist of two series of
notes -- floating-rate notes maturing in 2010, and fixed-rate notes
maturing in 2014. The principal amount of each series will be
determined at the time of pricing of the notes. The company will
use the net proceeds of the offering to repay existing
indebtedness, including revolving credit, which will release funds
available for general corporate purposes. The notes have not been
registered under the U.S. Securities Act of 1933 and may not be
offered or sold in the United States absent such registration or an
applicable exemption from registration requirements. The issuance
will be offered to qualified institutional buyers in reliance on
Rule 144A under the Securities Act and outside the United States in
compliance with Regulation S under the Securities Act. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy any security, nor shall there be any sale of the
notes in any jurisdiction where such offer, solicitation or sale
would be unlawful prior to registration or qualification under
applicable securities laws. This news release contains
forward-looking information. Actual results may differ from these
forward-looking statements due to numerous factors. Ispat Inland
Inc. is a subsidiaryof Ispat International N.V., one of the top
steel companies in the world, with integrated steelmaking
facilities in six countries and annual shipments in 2002 in excess
of 15 million tons. Ispat Inland manufactures a broad range of
semifinished and finished flat and bar steel products and is one of
the North America's lowest-cost steel producers. In addition to
Ispat Inland in East Chicago, Ind., USA, Ispat International has
major steelmaking facilities in Canada, Mexico, Trinidad, France
and Germany. Ispat International is a member of the LNM Group, the
world's second- largest and most global steel group, which also
operates in Algeria, Czech Republic, Indonesia, Kazakhstan, Romania
and South Africa. DATASOURCE: Ispat Inland Inc. CONTACT: David C.
Allen of Ispat Inland Inc., +1-219-399-5430
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