/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
HAMILTON, ON, Sept. 16, 2019 /CNW/ - Stelco Holdings Inc.
("Stelco " or the "Company") (TSX: STLC) today announced that its
wholly-owned subsidiary, Stelco Inc. ("Stelco Inc.") intends,
subject to market and other conditions, to offer approximately
US$300 million in aggregate principal
amount of senior secured notes due 2024 (the "Notes").
The Notes will be offered by a syndicate of initial purchasers
by way of a private placement under applicable securities laws.
Stelco Inc. intends to use the net proceeds from the offering for
capital expenditures and general corporate purposes, which may
include potential acquisitions, joint ventures and strategic
alliances or distributions to the Company.
The Notes will not be qualified for distribution to the public
under the securities laws of any province or territory of
Canada and may not be offered or
sold in Canada, directly or
indirectly, other than pursuant to applicable prospectus
exemptions. The Notes have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States, or to or for the account or
benefit of any U.S. person, absent registration or an applicable
exemption from the registration requirements of the Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes in any jurisdiction, or
an offer to purchase or the solicitation of an offer to sell.
Any offer of the Notes will be made only by means of a confidential
offering memorandum.
About Stelco
Stelco is a low cost, integrated and independent steelmaker with
one of the newest and most technologically advanced integrated
steelmaking facilities in North
America. Stelco produces flat-rolled value-added steels,
including premium-quality coated, cold-rolled and hot-rolled steel
products. With first-rate gauge, crown, and shape control, as well
as reliable uniformity of mechanical properties, our steel products
are supplied to customers in the construction, automotive and
energy industries across Canada
and the United States as well as
to a variety of steel services centres, which are regional
distributers of steel products.
This news release contains forward-looking statements, as
defined by applicable securities legislation, including statements
regarding the proposed offering of Notes and the anticipated use of
proceeds therefrom. Often, but not always, forward-looking
statements can be identified by the use of words such as "set up,"
"on track," "expect," "estimate," "forecast," "target," "outlook,"
"schedule," "represent," "continue," "intend," "should," "would,"
"could," "will," "can," "might," "may," and other expressions which
are predictions of or indicate future events, trends or prospects
and which do not relate to historical matters identify
forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements.
Although the Company believes it has a reasonable basis for
making these forward-looking statements, readers are cautioned not
to place undue reliance on such forward-looking information. By its
nature, forward-looking information involves numerous assumptions,
inherent risks and uncertainties, both general and specific, which
contribute to the possibility that the predictions, forecasts and
other forward-looking statements will not occur. Factors that could
cause actual results to differ materially from those contemplated
or implied by forward-looking statements include changes in general
economic and/or market conditions, material changes in the business
or affairs of the Company and conditions to closing the offering,
many of which are outside of the Company's control, which could
cause actual results to differ materially from the results
discussed in the forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by applicable law, the
Company does not undertake to update any forward-looking
statements, whether written or oral, that may be made from time to
time by, or on behalf of, the Company, whether as a result of new
information, future events or otherwise, or to publicly update or
revise the above list of factors affecting this information. New
factors emerge from time to time, and it is not possible for the
Company to predict all such factors. When considering the
forward-looking statements included in this news release, please
keep in mind the risk factors and other cautionary statements
described in the Company's management's discussion and analysis for
the three months and year ended December 31,
2018, the Company's management's discussion and analysis for
the three months ended June 30, 2019
and the Company's annual information form for the year ended
December 31, 2018, each available
under the Company's profile on SEDAR at
www.sedar.com. The forward-looking statements contained
in this news release are made as of the date hereof.
SOURCE Stelco