Algoma Steel Group announced that its indirect wholly-owned subsidiary, Algoma Steel, intends to offer for sale US$350 million aggregate principal amount of Senior Secured Second Lien Notes due 2029. The Notes will be guaranteed on a senior secured basis by ASI’s immediate parent company and all of ASI’s subsidiaries. Pricing and consummation of the offering of the Notes are subject to market and other conditions. ASI intends to use the net proceeds from the offering of the Notes for general corporate purposes, adding strength and flexibility to its balance sheet.
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