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Actionable news in AKS: AK STEEL HOLDING Corp,

AK Steel Holding Corporation just filed a prospectus, suggesting it plans to soon issue some securities

AK Steel Holding Corporation just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:

We estimate that the proceeds from this offering will be approximately $245.3 million (or $282.3 million if the underwriters exercise their option to purchase additional shares in full), after deducting fees and estimated expenses (assuming an offering price of $4.96 per share, the closing price for our shares on April 27, 2016). We intend to use the net proceeds from this offering to repay outstanding borrowings under the Credit F acility.

An affiliate of Merrill Lynch, Pierce, Fenner & Smith Incorporated serves as agent under the Credit Facility and each of the underwriters or their affiliates are lenders under the Credit Facility and will receive a portion of the proceeds from this offering as a result of such repayment. Because Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and Deutsche Bank Securities Inc. or their affiliates are lenders under the Credit Facility who will each receive 5% or more of the net proceeds of the offering, each such underwriter is deemed to have a conflict of interest under FINRA Rule 5121. Accordingly, this offering will be conducted in accordance with FINRA Rule 5121. See Underwriting (Conflicts of Interest)Conflicts of Interest.

Borrowings under the Credit Facility, which expires in March 2019, bear interest at the Base Rate (as defined herein) or, at AK Steels option, LIBOR (as defined herein), plus an additional interest rate margin that is determined by the average daily availability of borrowings under the Credit Facility. The additional interest rate margin for borrowings under the Tranche A Facility ranges from 0.50% to 1.00% per annum in the case of Base Rate borrowings and from 1.50% to 2.00% per annum in the case of LIBOR borrowings. For borrowings under the Tranche B Facility, the additional interest rate margin ranges from 1.75% to 2.25% per annum in the case of Base Rate borrowings and from 2.75% to 3.25% per annum in the case of LIBOR borrowings. In addition, AK Steel pays a commitment fee on the undrawn commitments under the Credit Facility from time to time according to the average daily balance of borrowings (which balance also includes outstanding letters of credit) under the Credit Facility during any month. This commitment fee on undrawn commitments applies at a rate of 0.375% per annum. See Description of Certain IndebtednessAK Steels Credit Facility.

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The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Quarterly report [Sections 13 or 15(d)] - April 28, 2016
AK Steel Holding: Ak Steel Reports First Quarter Financial Results WEST CHESTER, OH, - April 26, 2016
Automatic shelf registration statement of securities of well-known seasoned issuers - April 15, 2016
AK Steel Holding: Fee Computed On Table Below Per Exchange Act Rules - April 11, 2016