Algoma Steel Completes $350 Million Senior Secured Second Lien Notes Offering

Paul, Weiss advised Algoma Steel Inc., a leading Canadian steel producer, in its private offering of $350 million aggregate principal amount of 9.125% senior secured second lien notes due 2029. The net proceeds from the offering will be used for general corporate purposes, adding strength and flexibility to Algoma’s balance sheet. Jefferies, BMO Capital Markets and Stifel acted as joint bookrunning managers for the offering.

The Paul, Weiss team was led by corporate counsel Christian Kurtz and partner David Tarr, and included partners Christopher Cummings and Adam Givertz; tax partner Matthew Jordan; and executive compensation counsel Jake Glazeski.