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Article: Weirton Steel successfully completes offering of 10-year senior notes.
- Article from:
- PR Newswire
- Article date:
- October 20, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WEIRTON STEEL SUCCESSFULLY COMPLETES OFFERING OF 10-YEAR SENIOR NOTES
WEIRTON, W.Va., Oct. 20 /PRNewswire/ -- Weirton Steel Corp. (NYSE: WS) announced today that on Tuesday, Oct. 17, its offering of $300 million of 10-year senior notes was successfully concluded.
The notes, due Oct. 15, 1999, have a 10-7/8 percent coupon, and were priced at 99.5 percent to yield 10.958 percent. The offering was managed by Bear, Stearns & Co. Inc., Shearson Lehman Hutton Inc., and Lazard Freres & Co.
Certain of the proceeds of the offering, $60.2 million, were used to prepay the remaining amounts on the note held by National Intergroup Inc. (NYSE: NII), ...