Steel Dynamics, Inc. Successfully Completes $1 Billion Notes Offering

The offering consisted of two distinct tranches: $600 million in 5.250% Notes due 2035 (the "2035 Notes") and $400 million in 5.750% Notes due 2055 (collectively, the "Notes"). The net proceeds from this offering are earmarked for general corporate purposes, including the potential repayment of the company’s existing $400 million 2.400% Senior Notes, which are set to mature in June 2025.

Theresa E. Wagler, the Executive Vice President and Chief Financial Officer of Steel Dynamics, expressed her satisfaction with the offering's execution. "We are very pleased with the execution and support for our investment-grade note offering," she stated. Wagler emphasized that this transaction aligns with the company’s long-term strategy to build a robust capital foundation, beneficial to its teams, customers, shareholders, and ongoing growth endeavors.

She also reinforced the company’s commitment to maintaining its investment-grade credit ratings, which are pivotal for accessing lower-cost and longer-term capital. This, in turn, enhances the company's financial strength and provides optionality for future value-creation opportunities.

The successful completion of the Notes offering involved several prominent financial institutions serving as joint book-running managers. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, PNC Capital Markets LLC, BofA Securities, Inc., Wells Fargo Securities, LLC, and Truist Securities, Inc. played key roles in facilitating the transaction, signaling strong market confidence in Steel Dynamics.

Steel Dynamics is recognized as one of the largest domestic steel producers and metals recyclers in North America, with extensive facilities spread across the United States and Mexico. The company’s diverse product portfolio includes hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, specialty steel sections, and liquid pig iron, among others. Additionally, Steel Dynamics processes and sells ferrous and nonferrous scrap, further cementing its position in the metals recycling sector.

While the press release highlights the successful completion of this offering, it also contains forward-looking statements regarding the company’s expectations for future performance and market conditions. Steel Dynamics acknowledges various risks and uncertainties that could impact its operations, including domestic and global economic factors, market volatility, and compliance with environmental regulations among others.

As Steel Dynamics moves forward, it remains focused on leveraging its strong financial foundation to navigate the dynamic environment of the steel and metals markets, continuing its commitment to growth and innovation.

In summary, the completion of this $1 billion notes offering marks a pivotal moment for Steel Dynamics, underscoring its proactive approach to financing and strategic growth in the competitive steel industry.