Joseph T. Ryerson & Son, a wholly owned subsidiary of Ryerson Holding, is to issue senior secured notes maturing in 2022.
The offering is expected to be completed on or around 24 May, and is subject to customary closing conditions.
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The company will secure $650m through the offering, which has been guaranteed by Ryerson Holding, a metal distributor and processor, and some of its subsidiaries.
Dongbu Steel will issue 20 million shares of its common stock though private placement at a price of KRW10,000 ($8.53) per share.
The offering is expected to be closed on 25 May.
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The South Korea-based steel product manufacturer intends to raise KRW200bn ($170.78m) through the transaction.
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Image: Joseph T. Ryerson & Son will raise $650m through senior secured notes issuance. Photo: courtesy of Ryerson Holding.
