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Steel Dynamics adds $100 million to Senior NotesOfferingby Dave Porter - Senior Staff Reporter
Hotel Booking Steel Dynamics, Inc. (Nasdaq: STLD) announced that it intends to offer an additional $100 million of its 9-1/2% Senior Unsecured Notes due 2009. Are you running an online travel site or travel agency and looking for a professional partner for online hotel bookings Then follow the example of more than 12, 000 of your colleagues and join our attractive affiliate programme and benefit from the growing segment of hotel reservations on the internet! As an online hotel reservation service, TravelRes has the speaking countries. Each day, more than one million customers make thousands of hotel bookings with our unique service covering over 210, 000 hotels throughout the world. based vicinity search. Travel Agency Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. 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View a city map of Paris Alternatively view further information about Paris including travel information, hotels in Paris, sightseeing and much more useful information for to help you plan a trip to Paris. Flight Booking November 15, 2003 (AXcess News) Fort Wayne, IN - Steel Dynamics, Inc. (Nasdaq: STLD) today announced that it intends to offer an additional $100 million of its 9-1/2% Senior Unsecured Notes due 2009, subject to market and other conditions, as an add-on to its existing $200 million of these securities issued in March 2002. The hotel will not accept multiple rooms booked under one name.******Please be aware that on or before December 31, 2006, this hotel will be 100% free.*** Travel Agent Steel Dynamics intends to use a portion of the net proceeds from the offering to repay certain indebtedness under its senior secured Term B1 credit facility and a portion to finance capital expenditures. Senior Group Travel Ideas and Planning. Group arrangements for senior and retirement travel. Find the perfect hotel or resort for seniors, make group hotel reservations. Hotel Chicago The Company stated that the Notes would not be registered. Online Booking Steel Dynamics had announced in August that its Structural & Rail Division achieved its first monthly operating profit on shipments of 43,000 tons. The new mill in Columbia City, Indiana, which began commercial shipments in July, 2002, has continued to reduce its operating losses each month. In August, the division produced both positive cash flow and an operating profit.At the time of STLDs August announcement, Richard Teets, vice president and general manager of the Structural and Rail Division, stated, "I am very pleased to announce our progress with the structural mill becoming a profit contributor to Steel Dynamics. I give credit to our team's hard work in controlling costs and tightly managing energy and scrap resources as we've stepped up our rates of production and shipping. SDI is currently shipping a wide variety of beams in a range of 8 to 30 inches. We look to continue to improve profitability as we begin production of additional structural products, including 6", 33", and 36" wide-flange beams in the next few months." Travel Health Insurance Since December 2002, Steel Dynamics gross profits have been steadily decreasing, from $72,461 in the 4th quarter of 2002 to $38,855 in the 3rd quarter of 2003. Now that Company has announced plans to add another $100 million to its books in debt, Steel Dynamics will have to service $9.5 million more in interest which will shrink margins even more. Hotel Reservation The Fort Wayne Indiana steel company is banking heavily on its new plant and with world steel demand rising, its also looking at a stable market that could help the company's earnings improve. London Hotel Booking Steel Dynamics shares closed Friday at $19.80, off $0.30 or 1.49% on volume of 366,171 shares, which was 7.58% above its average trading volume reported of 340,363 shares. Discount Travel The company's shares have been slowly rising since May when STLD traded near $12.50. It reached a 52-week high of $20.25 in early trading Friday following its announced increase of its Senior Unsecured 9-1/2% Notes due in 2009 before backing off. Orlando Hotel AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box. Share this:More about:
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