AK Steel Announces Pricing of $30 Million Add-On Offering of Senior Secured Notes

 AK Steel Announces Pricing of $30 Million Add-On Offering of Senior Secured

PR Newswire

WEST CHESTER, Ohio, June 19, 2013

WEST CHESTER, Ohio, June 19, 2013 /PRNewswire/ --AK Steel Holding Corporation
(NYSE: AKS) ("AK Holding") announced today that its subsidiary, AK Steel
Corporation ("AK Steel"), has successfully priced a private offering of $30.0
million aggregate principal amount of its 8.750% senior secured notes due 2018
(the "add-on notes"), which were offered as an add-on to its outstanding
$350.0 million aggregate principal amount of 8.750% senior secured notes due

AK Steel will pay interest on the add-on notes semi-annually on June 1 and
December 1 of each year. The add-on notes will mature on December 1, 2018.
The add-on notes will be fully and unconditionally guaranteed on a senior
basis by AK Holding and will be secured by substantially all real property,
plant and equipment of AK Steel and proceeds thereof. AK Steel intends to use
the net proceeds from the sale of the add-on notes for general corporate
purposes. The offering is expected to close on June 24, 2013, subject to
customary closing conditions.

The add-on notes have not been registered under the Securities Act of 1933, as
amended (the "Securities Act") or the securities laws of any other
jurisdiction. As a result, they may not be offered or sold in the United
States or to any U.S. persons except pursuant to an applicable exemption from,
or in a transaction not subject to, the registration requirements of the
Securities Act. The add-on notes will be offered only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act and to
non-U.S. persons outside the United States under Regulation S under the
Securities Act.

This announcement does not constitute an offer to sell or the solicitation of
an offer to buy the add-on notes in the offering, nor shall there be any sale
of such add-on notes in any state in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such state.

Forward-Looking Statements
Some of the statements in this release are intended to be, and hereby are
identified as "forward-looking statements" for purposes of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. The
company cautions readers that such forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from
those currently expected by management, including those risks and
uncertainties discussed in AK Holding's Annual Report on Form 10-K for the
year ended December 31, 2012, its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2013 and Current Reports on Form 8-K filed with or
furnished to the Securities and Exchange Commission. Except as required by
law, the company disclaims any obligation to update any forward-looking
statements to reflect future developments or events.

AK Steel
AK Steel produces flat-rolled carbon, stainless and electrical steels,
primarily for automotive, infrastructure and manufacturing, construction and
electrical power generation and distribution markets. The company employs
about 6,100 men and women in Middletown, Mansfield, Coshocton and Zanesville,
Ohio; Butler, Pennsylvania; Ashland, Kentucky; Rockport, Indiana; and its
corporate headquarters in West Chester, Ohio.

AK Tube LLC, a wholly-owned subsidiary of AK Steel, employs about 300 men and
women in plants in Walbridge, Ohio and Columbus, Indiana. AK Tube produces
carbon and stainless electric resistance welded (ERW) tubular steel products
for truck, automotive and other markets.

AK Coal Resources, Inc., another wholly-owned subsidiary of AK Steel, controls
and is developing metallurgical coal reserves in Somerset County,
Pennsylvania. AK Steel also owns 49.9% of Magnetation LLC, a joint venture
headquartered in Grand Rapids, Minnesota, which produces iron ore concentrate
from previously mined ore reserves.

SOURCE AK Steel Holding Corporation

Contact: Media - Barry L. Racey, Director, Government and Public Relations
(513) 425-2749
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