United States Steel Corporation Announces Redemption of 6.875% Senior Notes Due 2025
17 Junho 2021 - 8:31AM
Business Wire
United States Steel Corporation (NYSE: X) (the “company” or “U.
S. Steel”) announced today that it issued a notice of redemption to
redeem the entirety of its approximately $718 million aggregate
principal amount of outstanding 6.875% Senior Notes due 2025 (the
“Notes”). Pursuant to the terms of the Notes and the indenture
governing the Notes, U. S. Steel expects the total payment to
holders of the Notes including the principal and redemption premium
to be approximately $730 million (reflecting a redemption price of
101.719% of the aggregate principal amount thereof in accordance
with the terms of the Notes), plus accrued and unpaid interest to,
but excluding, the redemption date of August 15, 2021. The Notes
will be redeemed with cash on hand.
“This is further confirmation of our commitment to strengthen
our balance sheet,” said U. S. Steel President and Chief Executive
Officer David B. Burritt. “Superior operating performance and our
focus on unlocking value through the sale of non-core assets have
afforded us the ability to take bold balance sheet actions and
further improve U. S. Steel’s competitiveness.”
This press release is for informational purposes only and is
neither an offer to buy nor a solicitation to sell any of the
Notes. The foregoing does not constitute a notice of redemption
under the indenture governing the Notes and is qualified in its
entirety by the redemption notice that will be distributed to the
holders of the Notes. A notice of redemption setting forth the
redemption procedures will be provided to registered holders of the
Notes by The Depository Trust Company.
Founded in 1901, United States Steel Corporation is a leading
steel producer. Together with its subsidiary Big River Steel and an
unwavering focus on safety, the company’s customer-centric Best for
All℠ strategy is advancing a more secure, sustainable future for U.
S. Steel and its stakeholders. With a renewed emphasis on
innovation, U. S. Steel serves the automotive, construction,
appliance, energy, containers, and packaging industries with high
value-added steel products such as U. S. Steel’s proprietary XG3™
advanced high-strength steel. The company also maintains
competitively advantaged iron ore production and has an annual raw
steelmaking capability of 26.2 million net tons. U. S. Steel is
headquartered in Pittsburgh, Pennsylvania, with world-class
operations across the United States and in Central Europe. For more
information, please visit www.ussteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210617005450/en/
John O. Ambler Vice President Corporate Communications T – (412)
433-2407 E – joambler@uss.com
Kevin Lewis Vice President Investor Relations T – (412) 433-6935
E – klewis@uss.com
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