Davis Polk advised the joint book-running managers and representatives of the several underwriters on an SEC-registered offering by AK Steel Corporation, a wholly owned subsidiary of AK Steel Holding Corporation, of $280 million principal amount of its 6.375% senior notes due 2025, guaranteed on a senior unsecured basis by AK Steel Holding Corporation, AK Steel Properties, Inc., AK Tube LLC and Mountain State Carbon, LLC.

Davis Polk is also advising the dealer manager in connection with AK Steel Corporation’s tender offer to purchase any and all of its $279.8 million aggregate principal amount of 8.375% senior notes due 2022.

Headquartered in West Chester, Ohio, AK Steel Holding Corporation is a publicly traded company that produces flat-rolled carbon, stainless and electrical steel products and carbon and stainless tubular products primarily for automotive, infrastructure and manufacturing, electrical power generation and distribution markets. 

The Davis Polk corporate team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associate Jennifer (Yujia) Jiang. Partner David H. Schnabel and associate K. Daniel Berman provided tax advice. Counsel Loyti Cheng and associate Michael Comstock provided environmental advice. All members of the Davis Polk team are based in the New York office.

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