CHICAGO, Sept. 15, 2016 /PRNewswire/
-- Ryerson Holding Corporation (NYSE: RYI)
announced today that its wholly-owned subsidiary, Joseph T. Ryerson & Son, Inc., has issued a
notice to redeem 100% of the outstanding aggregate principal amount
of its 11¼ % Senior Notes due 2018 (the "Notes") on October 15, 2016.
Pursuant to the terms of the Notes, all of the outstanding
principal amount of the Notes will be redeemed at a redemption
price equal to 102.813% of the principal amount thereof, plus
accrued and unpaid interest (if any), to, but not including,
October 15, 2016.
Additional information regarding the redemption is available
from Wells Fargo Bank, National Association.
About Ryerson
Ryerson is a processor and distributor of metals with operations
in the United States, Canada, Mexico and China. The company serves a variety of
industries, including customers making products or equipment for
the commercial ground transportation, metal fabrication and machine
shops, industrial machinery and equipment, consumer durables, HVAC,
construction, food processing and agriculture, as well as oil and
gas. Founded in 1842, Ryerson is headquartered in the United
States and has approximately 3,400 employees in approximately
100 locations.
Forward-Looking Statements
Certain statements made in this press release and other written
or oral statements made by or on behalf of the company constitute
"forward-looking statements" within the meaning of the federal
securities laws, including statements regarding our future
performance, as well as management's expectations, beliefs,
intentions, plans, estimates or projections relating to the future.
Such statements can be identified by the use of forward-looking
terminology such as "believes," "expects," "may," "estimates,"
"will," "should," "plans" or "anticipates" or the negative thereof
or other variations thereon or comparable terminology, or by
discussions of strategy. The company cautions that any such
forward-looking statements are not guarantees of future performance
and may involve significant risks and uncertainties, and that
actual results may vary materially from those in the
forward-looking statements as a result of various factors. Among
the factors that significantly impact the metals distribution
industry and our business are: the cyclicality of our business; the
highly competitive and fragmented market in which we operate;
fluctuating metal prices; our substantial indebtedness and the
covenants in instruments governing such indebtedness; the
integration of acquired operations; regulatory and other
operational risks associated with our operations located inside and
outside of the United States; work
stoppages; obligations regarding certain employee retirement
benefit plans; the ownership of a majority of our equity securities
by a single investor group; currency fluctuations; and
consolidation in the metals producer industry. Forward-looking
statements should, therefore, be considered in light of various
factors, including those set forth above and those set forth under
"Risk Factors" in our annual report on Form 10-K for the year ended
December 31, 2015 and in our other
filings with the Securities and Exchange Commission. Moreover, we
caution against placing undue reliance on these statements, which
speak only as of the date they were made. The company does not
undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events or
circumstances, new information or otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ryerson-announces-redemption-of-11-14--senior-notes-due-2018-300328736.html
SOURCE Ryerson