Trading Room home page

BlueScope scraps $US300m note offer

Market watch top headlines

Australian reports

World reports

Stocks to watch

ASL, AVG, BCI, CAB, CKF, GWA, MGX, MPL, REX, STO, TAH, WEB,

SYDNEY, Nov 12 AAP

November 12 2012, 09:34AM

BlueScope Steel has scrapped a previously announced offer of $US300 million ($A289.90 million) in notes to institutional investors.

"The decision to not proceed was taken due to recent volatility in US credit market conditions," BlueScope said on Monday.

"While BlueScope Steel received significant investor interest in the proposed offering, this interest did not ultimately result in terms and conditions that met the company's expectations."

The offer had been planned to refinance existing long-term debts.