United States Steel Corporation Announces Completion of Senior Notes and
Senior Convertible Notes Offerings
PITTSBURGH, March 26, 2013
PITTSBURGH, March 26, 2013 /PRNewswire/ --United States Steel Corporation
(NYSE: X) today announced that it has completed its public offerings of $275
million aggregate principal amount of 6.875% senior notes due 2021 (the
"Senior Notes") and $316.25 million aggregate principal amount of 2.75% Senior
Convertible Notes due 2019 (the "Convertible Notes"), including $41.25 million
aggregate principal amount of Convertible Notes related to the underwriters'
over-allotment option, which was exercised in full. Net proceeds to the
Company totaled approximately $576.6 million after deducting underwriting
discounts, commissions and U. S. Steel's estimated offering expenses.
J.P. Morgan Securities LLC, Barclays Capital Inc., Goldman, Sachs & Co., and
Morgan Stanley & Co. LLC are the joint book-runners for these offerings.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of any of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
This release contains forward-looking statements with respect to market
conditions and proposed offerings. In accordance with "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, cautionary statements
identifying important factors, but not necessarily all factors, that could
cause actual results to differ materially from those set forth in the
forward-looking statements have been included in the prospectuses for these
offerings, the Form 10-K of U. S. Steel for the year ended December 31, 2012,
and in subsequent filings for U. S. Steel.
For more information on United States Steel go to www.ussteel.com
SOURCE United States Steel Corporation
Contact: Media, Courtney Boone, (412) 433-6791; Investors/Analysts, Dan
Lesnak, (412) 433-1184
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