Davis Polk advised the joint book-running managers and representatives of the several underwriters of an SEC-registered offering by AK Steel Corporation, a wholly owned subsidiary of AK Steel Holding Corporation, of $380 million principal amount of its 7.50% senior secured notes due 2023, guaranteed on a senior basis by AK Steel Holding Corporation, AK Steel Properties, Inc. and AK Tube LLC.

 

Davis Polk also advised the dealer manager in connection with AK Steel Corporation’s concurrent cash tender offer to purchase any and all of its $380 million aggregate principal amount of 8.750% senior notes due 2018.

 

Headquartered in West Chester, Ohio, AK Steel Holding Corporation is a publicly traded company that produces flat-rolled carbon, stainless and electrical steel products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. The company operates eight steel plants, two coke plants and two tube manufacturing plants across six states: Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

 

The Davis Polk corporate team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associates Jennifer Ying Lan and Jennifer (Yujia) Jiang. Partner Jinsoo H. Kim and associate Alexandra (Z-Z) L. Cowen provided credit advice. Counsel Susan D. Kennedy provided real estate advice. Partner Michael Farber and associate Dao Fu provided tax advice. Counsel Loyti Cheng provided environmental advice. All members of the Davis Polk team are based in the New York office.

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