AK Steel Holding Corporation announced today that its subsidiary, AK Steel Corporation , has successfully priced a $400 million underwritten public offering of its 7 5/8% senior notes due 2020.
Shares of AK Steel Holding Corp. tumbled Tuesday after the steel company said it may have to pay more for coal because of an explosion at a Massey Energy Co. mine.
Ratings agency Standard & Poor&os;s upgraded AK Steel on Tuesday, saying that it expects its performance to improve this year on higher demand for steel.