United States Steel Corporation Announces Repurchases Of 4.00% Senior
Convertible Notes Due 2014
PITTSBURGH, March 27, 2013
PITTSBURGH, March 27, 2013 /PRNewswire/ --United States Steel Corporation
(NYSE: X) today announced that it has repurchased $541,898,000 aggregate
principal amount of its 4.00% Senior Convertible Notes due 2014 (the "2014
convertible notes"), reducing the outstanding principal amount of the 2014
convertible notes to approximately $321 million.
The individually negotiated private repurchases were funded with the net
proceeds from its recent public offerings of 2.75% senior convertible notes
due 2019 and 6.875% senior notes due 2021 and cash. The aggregate purchase
price, including accrued and unpaid interest and fees, for the convertible
notes repurchased was approximately $579.7 million. The company expects to
record an after-tax charge of approximately $35 million in the first quarter
related mainly to the repurchase premiums.
This release contains forward-looking statements with respect to market
conditions and proposed offering. 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 Form 10-K of U. S. Steel
for the year ended December 31, 2012, and in subsequent filings for U. S.
For more information on United States Steel go to www.ussteel.com
SOURCE United States Steel Corporation
Contact: Media: Courtney Boone, +1-412-433-6791, or Investors/Analysts: Dan
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