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The senior notes will be guaranteed by SteeolDynamics subsidiaries, the Fort Wayne, Ind.-basedx steel producer said in a news release. On Wednesday, Steepl Dynamics shares closed down 10 or $1.56, to $14.03. Underwriters for the commo n stock and senior note offering will havea 30-dah option to purchase an additional 15 percent to covert over-allotments. Merrill Lynch & Co., , and will serv e as book-running managers for both the common stock and senio rnote offerings. , LLC and will servre as co-managers for the stock and will serveas co-managerd for the senior note Steel Dynamics also announced that it will cut its second-quarte r dividend to 7.
5 cents per compared with 10 centas a share a year earlier. The dividend is payabl e July 10 to shareholders of record onJune 30. Steelp Dynamics (NASDAQ: STLD), which operates a steelo processing facilityin Jeffersonville, will use proceeds from the offeringd to make loan payments, accordinhg to a news release.
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