Key Developments: AK Steel Holding Corp (AKS)

AKS on New York Consolidated

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5 May 2015
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Latest Key Developments (Source: Significant Developments)

AK Steel gives Q1 2015 earnings guidance
Thursday, 19 Mar 2015 05:15pm EDT 

AK Steel:Expects to report a net loss of $0.23 to $0.28 per diluted share of common stock for Q1 2015.  Full Article

USW members ratify labor agreement for AK Steel Holding Corp's mountain state carbon plant
Thursday, 5 Feb 2015 05:35pm EST 

AK Steel Holding Corp:Says that members of the United Steelworkers (USW) international union have ratified a new four year labor agreement covering about 215 hourly production and maintenance employees at the company's Mountain State Carbon cokemaking plant in Follansbee, West Virginia.The new agreement will take effect on March 1, 2015.  Full Article

AK Steel Holding Corp gives Q4 2014 earnings guidance; EPS guidance above analysts' estimates
Wednesday, 17 Dec 2014 04:30pm EST 

AK Steel Holding Corp:Says for Q4 2014, it expects to report higher EBITDA (earnings before interest, taxes, depreciation and amortization) compared to Q3 2014.Expects Q4 2014 net income of $0.05 to $0.10 per diluted share of common stock, excluding effects of acquisition-related expenses pertaining to recent purchase of Severstal Dearborn.Reported EBITDA of $100.50 mln in Q3 2014.Q4 2014 EPS of $0.04 and EBITDA of $129.04 mln - Thomson Reuters I/B/E/S.  Full Article

AK Steel completes acquisition of Severstal Dearborn
Tuesday, 16 Sep 2014 02:30pm EDT 

AK Steel:Completes its acquisition of Severstal North America's integrated steelmaking assets located in Dearborn, Michigan.The transaction also included cokemaking facility and interests in three joint ventures that process flat-rolled steel products.AK Steel said that it paid $707 mln in cash for the acquisition, which includes $314 mln for working capital.The acquisition was financed with a combination of debt and equity securities offerings.The company will refer to its Dearborn, Michigan facility as Dearborn Works.  Full Article

AK Steel Holding Corp announces full exercise of underwriters' option to purchase additional shares of common stock
Friday, 12 Sep 2014 08:30am EDT 

AK Steel Holding Corp:Announced underwriters for previously announced offering of common stock have exercised in full their option to purchase an additional 5.25 mln shares of common stock.Intends to use net proceeds from sale of additional shares to repay borrowings under its asset-backed revolving credit facility and for general corporate purposes.Closing of sale of additional shares is expected to occur on Sept. 16.Joint book-running managers for common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan.  Full Article

AK Steel Holding Corp announces pricing of concurrent offerings of common stock and senior unsecured notes
Thursday, 11 Sep 2014 08:30am EDT 

AK Steel Holding Corp:AK Holding agreed to sell 35 mln shares of common stock at public offering price of $9.00 per share.In connection with this offering, AK Holding granted underwriters 30-day option to purchase up to an additional 5.25 mln shares of common stock.Concurrently with pricing of offering of common stock, AK Steel Corporation (AK Steel), wholly-owned subsidiary of AK Holding, successfully priced public offering of $430 mln of 7.625 pct senior notes due 2021.Which were offered to public at price of 99.325 pct of par.AK Steel will pay interest on notes semi-annually on April 1 and Oct. 1 of each year.Interest on newly issued notes will accrue from Sept. 16.Notes will mature on Oct. 1, 2021.AK Holding and AK Steel intend to use all of net proceeds from sale of notes, plus portion of net proceeds from sale of common stock, to pay purchase price for AK Steel's acquisition of Severstal Dearborn, LLC.To extent there are remaining net proceeds from sale of common stock, AK Holding intends to use such proceeds to repay borrowings under asset-backed revolving credit facility and for general corporate purposes.Both offerings are expected to close on Sept. 16 subject to customary closing conditions.Joint book-running managers for common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan.Joint book-running managers for notes offering are Credit Suisse, Citigroup and J.P. Morgan.  Full Article

AK Steel announces concurrent offerings of common stock and senior unsecured notes
Monday, 8 Sep 2014 06:46am EDT 

AK Steel Holding Corp:Commences a registered offering of 35,000,000 shares of its common stock.Grants the underwriters a 30-day option to purchase up to an additional 5,250,000 shares of common stock.Says along with its wholly-owned subsidiary, commences a registered offering of $430 mln aggregate principal amount of senior notes due 2021.Notes will be fully and unconditionally guaranteed on a senior unsecured basis by AK Holding, as well as AK Tube LLC and AK Steel Properties, Inc., two wholly-owned subsidiaries of AK Steel.Intend to use all of the net proceeds to pay the purchase price for AK Steel's acquisition of Severstal Dearborn, LLC and for general corporate purposes.Joint book-running managers for the common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan.Joint book-running managers for the notes offering are Credit Suisse, Citigroup and J.P. Morgan.  Full Article

AK Steel Holding Corp gives Q3 2014 net income guidance below analysts' estimates
Wednesday, 3 Sep 2014 08:30am EDT 

AK Steel Holding Corp:Expects Q3 2014 net income of $0.05 to $0.10 per diluted share of common stock.Q3 2014 net income of $0.26 - Thomson Reuters I/B/E/S.  Full Article

AK Steel Holding to acquire Severstal Dearborn
Monday, 21 Jul 2014 02:00am EDT 

AK Steel Holding Corp:Signs an agreement to acquire Severstal North America's integrated steelmaking assets located in Dearborn, Michigan for $700 mln in cash.Acquisition also includes a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.Closing is expected to occur in the fourth quarter of 2014.Credit Suisse is acting as financial advisor to AK Steel and Weil, Gotshal & Manges LLP is serving as its legal advisor.  Full Article

AK Steel Holding Corp gives Q2 2014 EPS guidance
Thursday, 19 Jun 2014 05:00pm EDT 

AK Steel Holding Corp:Expects Q2 2014 to report a net loss of $0.19 to $0.23 per diluted share of common stock.  Full Article

DIARY-U.S. MEETINGS/WEEK AHEAD

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