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Algoma Steel Inc. Announces Pricing of US$350 Million 9.125% Senior Secured Second Lien Notes due 2029

Retrieved on:

Tuesday, March 26, 2024

ASTL, Sale, Regulation, News, Senior, ASI, TSX, Legislation, STE, Security (finance)

MARIE, Ontario, March 26, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, Algoma Steel Inc. (“ASI”), has priced its previously announced offering of US$350 million aggregate principal amount of 9.125% Senior Secured Second Lien Notes due 2029 (the “Notes”).

Key Points:

MARIE, Ontario, March 26, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, Algoma Steel Inc. (“ASI”), has priced its previously announced offering of US$350 million aggregate principal amount of 9.125% Senior Secured Second Lien Notes due 2029 (the “Notes”).
The Notes will be issued at a price of 100% of their face amount, for gross proceeds of US$350 million, and will bear interest at the rate of 9.125% per year.
The Notes will be guaranteed on a senior secured basis by ASI’s immediate parent company and all of ASI’s subsidiaries.
The offering of the Notes is expected to close on or about April 5, 2024, subject to customary closing conditions.

CORRECTION: Dividend Payment Date Adjustment Due to Canadian Statutory Holiday

Retrieved on:

Monday, March 25, 2024

TSX, ASTL, STE

SAULT STE.

Key Points:

SAULT STE.
MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today informs its shareholders of an adjustment to the previously announced dividend payment date in respect of the previously announced regularly scheduled dividend payable to holders of record of common shares of the Company as of the close of business on February 29, 2024.
This adjustment is required due to the occurrence of a Canadian statutory holiday on the originally scheduled payment date.
The dividend payment date originally scheduled for March 29, 2024, has been revised to March 28, 2024.

Algoma Steel Provides Fiscal Fourth Quarter 2024 Guidance

Retrieved on:

Monday, March 25, 2024

STE, Adjustment, TSX, Electric arc furnace, ASTL, EAF, Coal

MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal fourth quarter ending March 31, 2024.

Key Points:

MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal fourth quarter ending March 31, 2024.
Fiscal 2024 fourth quarter total steel shipments are expected to be in the range of 445,000 to 460,000 tons and Adjusted EBITDA is expected to be in the range of $30 million to $40 million.
As previously announced, during the quarter Algoma experienced an unplanned outage at its blast furnace in connection with a utility corridor collapse at its coke-making facility.
It is expected that the resultant outage reduced production by 120,000 to 150,000 net tons, significantly impacting Adjusted EBITDA performance in the quarter.

Algoma Steel Inc. Announces Proposed Offering of US$350 Million of Senior Secured Second Lien Notes due 2029

Retrieved on:

Monday, March 25, 2024

ASTL, Sale, Regulation, News, Senior, ASI, TSX, Legislation, STE, Security (finance)

MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, Algoma Steel Inc. (“ASI”), intends to offer for sale US$350 million aggregate principal amount of Senior Secured Second Lien Notes due 2029 (the “Notes”).

Key Points:

MARIE, Ontario, March 25, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma”), a fully integrated producer of hot and cold rolled steel products including sheet and plate, announced today that its indirect wholly-owned subsidiary, Algoma Steel Inc. (“ASI”), intends to offer for sale US$350 million aggregate principal amount of Senior Secured Second Lien Notes due 2029 (the “Notes”).
The Notes will be guaranteed on a senior secured basis by ASI’s immediate parent company and all of ASI’s subsidiaries.
Pricing and consummation of the offering of the Notes are subject to market and other conditions.
ASI intends to use the net proceeds from the offering of the Notes for general corporate purposes, adding strength and flexibility to its balance sheet.

Maxar Intelligence Awarded Phase 4 of U.S. Army’s One World Terrain Contract

Retrieved on:

Tuesday, March 12, 2024

Maxar Intelligence, a provider of secure, precise, geospatial intelligence, today announced that it was awarded Phase 4 of the U.S. Army’s One World Terrain (OWT) prototype Other Transaction Agreement contract.

Key Points:

Maxar Intelligence, a provider of secure, precise, geospatial intelligence, today announced that it was awarded Phase 4 of the U.S. Army’s One World Terrain (OWT) prototype Other Transaction Agreement contract.
View the full release here: https://www.businesswire.com/news/home/20240312793353/en/
An example of the precise, realistic 3D terrain that Maxar Intelligence creates to support programs such as One World Terrain.
Improving 3D terrain dataset fidelity and refining automation processes to generate realistic terrain for high-fidelity modeling and simulation systems.
Maxar Intelligence has supported the OWT contract since 2019.

Stora Enso publishes Green and Sustainability-Linked Financing Report 2023

Retrieved on:

Thursday, March 28, 2024

Sustainability, EUR, Climate change, Carbon, Green, OTCQX, STE, Renewable energy

HELSINKI, March 28, 2024 /PRNewswire/ -- Stora Enso has published its Green and Sustainability-Linked Financing Report for 2023.

Key Points:

HELSINKI, March 28, 2024 /PRNewswire/ -- Stora Enso has published its Green and Sustainability-Linked Financing Report for 2023.
At the end of 2023, Stora Enso had fourteen outstanding green bonds or bilateral loans, with a total nominal amount of EUR 2,594 million.
The proceeds fall into two of the eligible categories associated with Stora Enso's Green and Sustainability-Linked Financing Framework: Sustainable forest management and Sustainable product processes.
Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion.

Stora Enso publishes Green and Sustainability-Linked Financing Report 2023

Retrieved on:

Thursday, March 28, 2024

Sustainability, EUR, Climate change, Carbon, Green, OTCQX, STE, Renewable energy

HELSINKI, March 28, 2024 /PRNewswire/ -- Stora Enso has published its Green and Sustainability-Linked Financing Report for 2023.

Key Points:

HELSINKI, March 28, 2024 /PRNewswire/ -- Stora Enso has published its Green and Sustainability-Linked Financing Report for 2023.
At the end of 2023, Stora Enso had fourteen outstanding green bonds or bilateral loans, with a total nominal amount of EUR 2,594 million.
The proceeds fall into two of the eligible categories associated with Stora Enso's Green and Sustainability-Linked Financing Framework: Sustainable forest management and Sustainable product processes.
Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion.

LOUIS LATOUR CHARTS FUTURE WITH EXECUTIVE APPOINTMENTS IN FRANCE AND US

Retrieved on:

Tuesday, March 26, 2024

Domaine Dujac, STE, Female, Joël Retornaz, Life, Wine, Group (military unit), Marketing, Luxury, Viticulture

BEAUNE, France, March 26, 2024 /PRNewswire/ -- Maison Louis Latour today announced two executive-level appointments geared to strengthen its position as Burgundy's leading wine producer, recognized for its vast portfolio of award-winning Grand Crus, Premier Crus and other fine wines, as well as its pioneering of sustainability practices to help preserve the uniqueness of Burgundy's terroir.

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Eléonore Latour, a 12th generation Latour family member, was named Vice President of Maison Louis Latour and will be based in Burgundy.
Both positions will report to Florent Latour, CEO of Maison Louis Latour.
"I look forward to collaborating with them to carry the best of Louis Latour's heritage and innovation forward."
Retornaz will retire from his role as President of US-based Louis Latour Inc. at the end of 2024 and join the Groupe Latour Advisory Board, serving as a Vice Chairman.

Resolutions by Stora Enso Oyj's Annual General Meeting and the organising meeting of the Board of Directors

Retrieved on:

Thursday, March 21, 2024

Remuneration, Stora Enso, EUR, Employment, Congress Center, Finance, FAM AB, ADR, Euroclear, AGM, FAM, Shareholder, Audit committee, OTCQX, Citibank, Legislation, Sustainability, APA, STE, Management

HELSINKI, March 21, 2024 /PRNewswire/ -- Stora Enso Oyj's ("Stora Enso" or the "Company") Annual General Meeting (the "AGM") was held on 20 March 2024 at Marina Congress Center in Helsinki, Finland. The AGM adopted the accounts for 2023, adopted the remuneration report for 2023 through an advisory resolution and granted the Company's Board of Directors and Chief Executive Officer discharge from liability for the period.

Key Points:

The Company will publish possible resolutions of the Board of Directors on dividend payments and confirm the record and payment dates of the dividend payments in connection with such resolutions.
The AGM resolved, in accordance with the proposal by the Shareholders' Nomination Board, that the Board of Directors shall have eight (8) members.
In accordance with the proposal by the Shareholders' Nomination Board, the AGM resolved to elect Kari Jordan as Chair of the Board of Directors and Håkan Buskhe as Vice Chair of the Board of Directors.
Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).

Resolutions by Stora Enso Oyj's Annual General Meeting and the organising meeting of the Board of Directors

Retrieved on:

Wednesday, March 20, 2024

Remuneration, Stora Enso, EUR, Employment, Congress Center, Finance, FAM AB, ADR, Euroclear, AGM, FAM, Shareholder, Audit committee, OTCQX, Citibank, Legislation, Sustainability, APA, STE, Management

HELSINKI, March 20, 2024 /PRNewswire/ -- Stora Enso Oyj's ("Stora Enso" or the "Company") Annual General Meeting (the "AGM") was held on 20 March 2024 at Marina Congress Center in Helsinki, Finland. The AGM adopted the accounts for 2023, adopted the remuneration report for 2023 through an advisory resolution and granted the Company's Board of Directors and Chief Executive Officer discharge from liability for the period.

Key Points:

The Company will publish possible resolutions of the Board of Directors on dividend payments and confirm the record and payment dates of the dividend payments in connection with such resolutions.
The AGM resolved, in accordance with the proposal by the Shareholders' Nomination Board, that the Board of Directors shall have eight (8) members.
In accordance with the proposal by the Shareholders' Nomination Board, the AGM resolved to elect Kari Jordan as Chair of the Board of Directors and Håkan Buskhe as Vice Chair of the Board of Directors.
Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).