By Sheri Kasprzak
New York, Dec. 2 - The Lorain County Port Authority of Ohio priced $70 million of series 2010 recovery zone facility revenue bonds for United States Steel Corp., according to an 8-K filed Thursday with the Securities and Exchange Commission.
The bonds were sold on a negotiated basis with Morgan Stanley & Co. Inc. and PNC Capital Markets LLC as the senior managers.
The bonds are due Dec. 1, 2040 and have a 6.75% coupon priced at par.
Proceeds will be used to finance the construction, acquisition, equipment and installation of a heat quench and temper line, as well as a finishing tube facility at the corporation's plant in Lorain, Ohio.
| Issuer: | Lorain County Port Authority/U.S. Steel Corp.
|
| Issue: | Series 2010 recovery zone facility revenue bonds
|
| Amount: | $70 million
|
| Maturity: | Dec. 1, 2040
|
| Coupon: | 6.75%
|
| Price: | 100
|
| Type: | Negotiated
|
| Underwriters: | Morgan Stanley & Co. Inc. and PNC Capital Markets LLC (lead)
|
| Pricing date: | Dec. 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
