AK Steel Holding Corp. (AKS) said Wednesday that its subsidiary, AK Steel Corp., has commenced a private offering of $30.0 million aggregate principal amount of 8.750% senior secured notes due 2018, which are being offered as an add-on to its outstanding $350.0 million aggregate principal amount of 8.750% senior secured notes due 2018.
The add-on notes will be treated as a single series with, and will have the same terms as, the existing notes.
AK Steel intends to use the net proceeds from the sale of the add-on notes for general corporate purposes.
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