Dofasco proposes to redeem its medium term notes



    HAMILTON, ON, April 9 /CNW/ - Dofasco announced today that it plans to
seek written consent from Canadian noteholders for approval of amendments to
permit it to redeem all of its outstanding 7.55% unsecured medium term notes
due October 1, 2008 at a price equal to the Government of Canada Yield and its
4.961% unsecured medium term notes due June 15, 2017 at a price equal to par.
With the consent of the noteholders, Dofasco will amend the terms of the notes
to permit their redemption and to reduce the notice period required for such
redemption. The applicable trust indentures require the written consent of at
least 66 2/3% of the principal amount of the notes in order to effect the
amendments.
    RBC Dominion Securities Inc. ("RBC DS") has indicated that it intends to
acquire 66 2/3% or more of the notes in the open market from Canadian
noteholders, if available, at the prices noted above. RBC DS has also
indicated to Dofasco that, if RBC DS purchases a principal amount of notes
equal to or greater than 66 2/3% of each issue of notes, RBC DS will consent
to the necessary amendments to permit the redemption of the notes. The
aggregate face value of the notes is $375 million. Further announcements if
necessary will be made with additional information when available.

    Dofasco is a leading North American steel solutions provider. Product
lines include hot rolled, cold rolled, galvanized, Extragal(TM), Galvalume(TM)
and tinplate flat rolled steels, as well as tubular products and laser-welded
blanks. Dofasco's wide range of steel products is sold to customers in the
automotive, construction, energy, manufacturing, pipe and tube, appliance,
packaging and steel distribution industries.





For further information:

For further information: Gordon Forstner, (905) 548-7200 ext. 2200

Organization Profile

ARCELORMITTAL DOFASCO INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890