Ryerson upsizes tender offer to $132.16 million for 8½% notes

Chicago, May 26 – Ryerson Holding Corp. said its Joseph T. Ryerson & Son, Inc. subsidiary will upsize its tender offer for its $182,155,000 outstanding 8½% senior secured notes due 2028 (Cusips: 48088LAB3, U4830LAB4), according to a news release.

The early deadline was 5 p.m. ET on May 26.

Noteholders tendered $168,178,000 of the notes and the company said that it will accept $132,155,000 of the notes.

The offer started with a $75 million cap.

The company is paying per $1,000 principal amount a total consideration of $1,062.50, which includes an early tender premium of $25.00.

Holders will also receive accrued interest.

The early settlement date is May 31.

The offer was set to expire at 11:59 p.m. ET on June 10, but because the upsized cap has been reached, no more notes will be accepted for purchase.

Previously reported, the company plans to use cash on hand and/or revolving credit facility borrowings to fund the offer.

D.F. King & Co., Inc. (212 269-5550, 800 488-8075 or ryi@dfking.com) is the information agent.

BofA Securities, Inc. (980 388-0539 or debt_advisory@bofa.com) is the dealer manager.

Ryerson is a Chicago-based value-added processor and distributor of industrial metals.

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