June 8, 2009 (FinancialWire) — Steel Dynamics, Inc. - (NASDAQ: STLD) has priced its public offerings of common stock and 5.125% convertible senior notes due 2014. Merrill Lynch (NYSE: MER), Goldman, Sachs (NYSE: GS), Morgan Stanley (NYSE: MS) and J.P.Morgan Securities are serving as joint book-running managers for both offerings.

The company has agreed to sell 27 million shares of its common stock at $13.50. Steel Dynamics has granted the underwriters a 30-day option to purchase up to an additional 4.05 million shares of common stock to cover over-allotments.

Steel Dynamics also priced its public offering of $250 million of 5.125% convertible senior notes due 2014. The company has granted the underwriters a 30-day option to purchase up to an additional $37.5 million principal amount of convertible senior notes to cover over-allotments.

The convertible senior notes will pay interest semi-annually at a rate of 5.125% and will mature on June 15, 2014. The notes will be convertible at the holder’s option into shares of the company at an initial conversion rate of 56.9801 shares of common stock per $1,000 principal amount of convertible senior notes, equivalent to a conversion price of around $17.55 per share of common stock.

Steel Dynamics plans to use the net proceeds from the offerings to repay the term loan portion of its existing senior secured credit facility in full. The remaining proceeds from the offerings will be used for general corporate purposes.

Fort Wayne, Indiana-based Steel Dynamics is a producer of carbon steel products that operates five electric-furnace mini-mills and employs about 3,500 people.

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