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Reliance Steel & Aluminum Co. Announces $500 Million 4.500% Senior Notes Offering

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By Business Wirevia The Motley Fool

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Reliance Steel & Aluminum Co. Announces $500 Million 4.500% Senior Notes Offering

LOS ANGELES–(BUSINESS WIRE)– Reliance Steel & Aluminum Co. (NYS: RS) announced today that it has entered into an underwriting agreement for the sale of $500 million principal amount of its 4.500% Senior Notes due 2023 at an issue price of 99.585%. The notes will be guaranteed by Reliance’s subsidiaries that guarantee its credit agreement and its senior notes due 2016 and 2036. Reliance intends to use the net proceeds to finance a portion of its pending acquisition of Metals USA Holdings Corp. If Reliance does not consummate its acquisition of Metals USA on or prior to December 15, 2013, the merger agreement with Metals USA is terminated at any time prior thereto or Reliance determines in its reasonable judgment that the acquisition will not occur, Reliance will be required to redeem all of the notes at a purchase price in cash equal to 101% of their aggregate principal amount, plus accrued and unpaid interest. The offering is expected to close on April 12, 2013.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC acted as joint book-running managers of the offering.

The offering is being made only by means of a prospectus supplement and an effective registration statement (including a prospectus), which have been filed with the SEC. A copy of the prospectus supplement and accompanying prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, New York 10179, by phone at 1-212-834-4533, or by fax at 1-212-834-6081; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, 222 Broadway, 7th Floor, New York, New York 10038, by email at dg.prospectus_requests@baml.com, or by phone at 1-800-294-1322; or Wells Fargo Securities, LLC, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, by email at cmclientsupport@wellsfargo.com, or by phone at 1-800-326-5897. Alternatively, you may get these documents for free by visiting the SEC‘s website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, and shall not constitute an offer, solicitation or sale in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum Co., headquartered in …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Reliance Steel & Aluminum Co. Announces Proposed $500 Million Senior Notes Offering

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By Business Wirevia The Motley Fool

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Reliance Steel & Aluminum Co. Announces Proposed $500 Million Senior Notes Offering

LOS ANGELES–(BUSINESS WIRE)– Reliance Steel & Aluminum Co. (NYS: RS) announced today that it proposes to offer, subject to market and other considerations, $500 million principal amount of senior notes due 2023. Actual terms of the notes, including interest rate, will depend on market conditions at the time of pricing. The notes will be guaranteed by Reliance’s subsidiaries that guarantee its credit agreement and its senior notes due 2016 and 2036. Reliance intends to use the net proceeds to finance a portion of its pending acquisition of Metals USA Holdings Corp. If Reliance does not consummate its acquisition of Metals USA on or prior to December 15, 2013, the merger agreement with Metals USA is terminated at any time prior thereto or Reliance determines in its reasonable judgment that the acquisition will not occur, Reliance will be required to redeem all of the notes at a purchase price in cash equal to 101% of their aggregate principal amount, plus accrued and unpaid interest.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers of the offering.

The offering is being made only by means of a preliminary prospectus supplement and an effective registration statement (including a prospectus), which have been filed with the SEC. A copy of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, New York 10179, by phone at 1-212-834-4533, or by fax at 1-212-834-6081; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention: Prospectus Department, 222 Broadway, 7th Floor, New York, New York 10038, by email at dg.prospectus_requests@baml.com, or by phone at 1-800-294-1322; or Wells Fargo Securities, LLC, Attention: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, by email at cmclientsupport@wellsfargo.com, or by phone at 1-800-326-5897. Alternatively, you may get these documents for free by visiting the SEC‘s website at www.sec.gov. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, and shall not constitute an offer, solicitation or sale in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Reliance Steel & Aluminum Co.

Reliance Steel & Aluminum …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

American Campus Communities, Inc. Announces Pricing of $400 Million 3.750 Percent Senior Unsecured N

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By Business Wirevia The Motley Fool

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American Campus Communities, Inc. Announces Pricing of $400 Million 3.750 Percent Senior Unsecured Notes Due 2023

AUSTIN, Texas–(BUSINESS WIRE)– American Campus Communities, Inc. (NYS: ACC) , the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced that its operating partnership, American Campus Communities Operating Partnership LP, priced a $400 million offering of senior unsecured notes under its existing shelf registration. These ten-year notes were issued at 99.659 percent of par value with a coupon of 3.750 percent and are fully and unconditionally guaranteed by the Company. Interest on the notes is payable semi-annually on April 15 and October 15, with the first payment beginning on October 15, 2013. The notes will mature on April 15, 2023. The Operating Partnership expects to use the net proceeds of approximately $394.9 million to repay the outstanding balance of its revolving credit facility, to fund its current development pipeline and potential acquisitions of student housing properties and for general business purposes. Settlement is scheduled for April 2, 2013.

BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan and Wells Fargo Securities are Joint Book-Running Managers for the offering.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. A copy of the prospectus supplement and prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York NY 10005, (800) 503-4611; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk – 3rd floor, by calling (212) 834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Floor, New York, NY 10038, Attention: Prospectus Department, by calling 800-294-1322 or by email at dg.prospectus_requests@baml.com; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, by telephone by calling (800) 326-5897 or e-mail request to cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any …read more
Source: FULL ARTICLE at DailyFinance