International Steel $600 million 10-year notes talked at 61/2-6¾%, to price Thursday

By Paul A. Harris

St. Louis, April 7 - Price talk is 6½% to 6¾% on International Steel Group Inc.'s proposed $600 million offering of 10-year senior notes (Ba3/BB), a syndicate source said.

The deal is expected to price Thursday morning.

Goldman Sachs & Co., UBS Investment Bank, Citigroup and JP Morgan are joint bookrunners for the Rule 144A offering.

The notes will be non-callable.

Proceeds will be used to repay about $266.8 million of term loan and other debt and capital lease obligations, and for general corporate purposes including $150 million to fund the potential acquisition of Weirton Steel.

The issuer is a Richfield, Ohio-based integrated steel company.

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