AK iron ore JV nets $325M in offering

May 21, 2013 | 02:46 PM | Stacy Irish

Tags  AK Steel, Magnetation, iron, iron ore, iron ore pellet, Magnetation, Steel First, Stacy Irish

NEW YORK — Magnetation LLC, AK Steel Corp.’s joint venture with iron ore concentrate producer Magnetation Inc., has completed a $325-million notes offering and has entered into a $50-million senior secured credit facility, AK Steel said May 20.

The proceeds from the senior secured notes offering will be used primarily to fund the construction of a new iron ore pellet plant in Reynolds, Ind., the steelmaker said. Production from the pellet plant will supply AK Steel’s blast furnaces in Ohio and Kentucky, the company said. ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results