ESSAR STEEL ALGOMA HEADLINESSteel Producers /
Essar Steel Algoma
Algoma to Make Prepayment Under Term Loan
Dec. 31, 2007 Algoma Steel recently notified UBS AG that it intended to make a prepayment under its term loan agreement.
According to a company statement, the payment of $130 million was to be made on Dec. 28, 2007. The company noted that there would be no further announcements regarding the prepayment.
Based in Sault Ste. Marie, Ont., Algoma Steel is a member of the Essar Group. A fully integrated steel producer, Algoma’s revenues are derived primarily from the manufacture and sale of rolled products, including hot and cold rolled plate.