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eastunder

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eastunder

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Re: eastunder post# 193

Friday, 07/17/2009 6:55:50 PM

Friday, July 17, 2009 6:55:50 PM

Post# of 241
Gerdau Ameristeel to buy back $405M in notes

Gerdau Ameristeel to buy back $405 million in notes on Aug. 31

On Friday July 17, 2009, 5:32 pm EDT

TAMPA, Fla. (AP) -- Gerdau Ameristeel Corp. on Friday said it plans to redeem its $405 million 10.375 percent senior notes due in 2011.

The company said it would pay a redemption price of 101.792 percent of the outstanding principal, plus interest to the redemption date of Aug. 31.

The company said it would pay for the redemption with cash.

"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness;

-- Charles Dickens

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