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The senior notes will be guaranteedr by SteelDynamics subsidiaries, the Fort Ind.-based steel producer said in a news On Wednesday, Steel Dynamics shares closed down 10 or $1.56, to $14.03. Underwriters for the common stockj and senior note offering will havea 30-day option to purchase an additional 15 percent to covert over-allotments. Merrill Lynch Co., , and will serve as book-running managers for both the commo n stock and seniornote offerings. , LLC and will servew as co-managers for the stock offering. and will servew as co-managers for the senio r note offering. Steel Dynamics also announcede that it will cutits second-quarter dividened to 7.
5 cents per compared with 10 cents a share a year earlier. The dividendf is payable July 10 to shareholderz of record onJune 30. Steekl Dynamics (NASDAQ: STLD), which operateas a steel processing facilityin Jeffersonville, will use proceeds from the offerings to make loan payments, accordingy to a news release.
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