US Steel out with high yield refi after Trump tariff boost

US Steel was in the US high yield bond market on Tuesday, one week after announcing it would restart a steelmaking facility in Illinois in anticipation of a boost in demand as a result of US president Donald Trump slapping a 25% tariff on imported steel.

  • By David Bell
  • 13 Mar 2018

US Steel announced a drive-by bond offering on Tuesday, with the company offering a $650m eight year non-call three deal. The deal was priced at par to yield 6.25%, at the wide end of 6%-6.25% price talk.

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 9,214.95 32 6.94%
2 Credit Agricole CIB 9,005.35 34 6.78%
3 Deutsche Bank 7,673.16 25 5.78%
4 Goldman Sachs 7,228.76 27 5.44%
5 Barclays 7,034.84 23 5.30%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 2,908.04 34 7.69%
2 JPMorgan 2,667.48 29 7.05%
3 Credit Suisse 2,342.19 23 6.19%
4 Goldman Sachs 2,130.55 21 5.63%
5 Deutsche Bank 1,993.88 21 5.27%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,362.60 98 9.89%
2 Citi 9,045.27 76 7.23%
3 Barclays 8,801.09 64 7.04%
4 Bank of America Merrill Lynch 8,770.59 82 7.01%
5 Goldman Sachs 8,019.67 66 6.41%