Reliance Steel & Aluminum Co. Announces a Public Offering of 6,750,000 Shares of Its Common Stock
Reliance Steel & Aluminum Co.
Kim P. Feazle
Investor Relations
713-610-9937
213-576-2428
kfeazle@rsac.com
investor@rsac.com
Logo: http://www.rsac.com
Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it intends to offer 6,750,000 shares of its common stock in a registered public offering. Reliance intends to use the net proceeds from this offering, together with funds drawn under its existing revolving credit facility and borrowings under a proposed $250 million unsecured senior term loan facility, to fund the consideration for its previously announced proposed acquisition of PNA Group Holding Corporation as well as the related repayment or refinancing of PNA’s outstanding indebtedness.
J.P. Morgan Securities Inc., UBS Investment Bank and Banc of America Securities LLC will act as joint bookrunning managers for the offering. In addition, Citi, KeyBanc Capital Markets, Wachovia Securities and Wells Fargo Securities will act as co-managers of the offering. The underwriters are expected to be granted an option to purchase up to 1,012,500 additional shares of common stock from Reliance to cover over-allotments, if any.
A prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities Inc., National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, (718) 242-8002; UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171, (888) 827-7275; or Banc of America Securities LLC, Capital Markets (Prospectus Fulfillment) by e-mail to dg.prospectus_distribution@bofasecurities.com or by mail to Banc of America Securities LLC, Capital Markets Operations, 100 West 33rd Street, 3rd Floor, New York, NY 10001.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America (United States and Canada). Through a network of more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
This release may contain forward-looking statements. Actual results and events may differ materially as a result of a variety of factors, many of which are outside of Reliance Steel & Aluminum Co.’s control. Risk factors and additional information are included in Reliance Steel & Aluminum Co.’s reports on file with the Securities and Exchange Commission, including Reliance Steel & Aluminum Co.’s Annual Report on Form 10-K for the year ended December 31, 2007, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2008.
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