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Domestic bonds: AK Steel, 7.625% 1oct2021, USD (US001546AS98, 001546AS9)

StatusCountry of riskMaturity (option)
Amount i
This field shows outstanding face value amount for outstanding bonds
Issue ratings (M/S&P/F)
outstandingUSA**/**/**** (**/**/****)406,200,000 USD***/***/***
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Yield calculation

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Issue information

IssuerAK Steel
GuarantorAK Steel Holding
Bond typeCoupon bonds
Placement methodOpen subscription
Placement typePublic
Issue purposeShow
Issue purpose
Company intend to use the net proceeds from this offering, together with a portion of the net proceeds from AK Holding’s concurrent common stock offering, to finance AK Steel’s acquisition of Severstal Dearborn
Par amount, integral multiple1,000 USD
Nominal1,000 USD
Outstanding principal amount1,000 USD
Amount430,000,000 USD
Amount Outstanding406,200,000 USD
Outstanding face value amount406,200,000 USD
Placement date**/**/****
Maturity date**/**/****
Floating rateNo
Coupon Rate*.***%
Current coupon rate7.625%
Day count fraction***
ACI*** (09/18/2019)
Coupon frequency2 time(s) per year
Interest accrual date**/**/****

Related issues

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Cbonds Valuation
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology. The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
:

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
CBONDS ESTIMATION
i
Indicative bond and international bond quotes by Cbonds are calculated based on the methodology described here http://ru.cbonds.com/organizations/docdownload/8715.
The end result of the methodology is a single end-of-day Cbonds quote, which is based on bid and ask data of various trading floors and contributors working with this asset.
Quotes are published both anonymously and publicly in the section Bond Quotes by Market Participants: http://cbonds.com/quotes/market/. These quotes are indicative only. Organizations posting the quotes have no obligations to conduct transactions at these prices. To learn the actual current prices, you need to contact the respective organization. Trading floor quotes are available at http://cbonds.com/quotes/.
09/17/2019*** / *** (*** / ***)*** (***)******Archive
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Bond Quotes by Market Participants

Market participantDate and timeBid/ask or last price
(Yield)
Zurich Cantonal Bank09/17/2019**.* / ***.**
(*.** / *.**)
Anonymous participant 2009/16/2019***.**
(*.**)
Anonymous participant 1209/16/2019***.**
(-*.**)
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Stock exchange and OTC quotes

Trading floorDate and timeBid/ ask price (Yield)
Indicative price (Yield) i
Indicative price is used to calculate the effective yield, duration, modified duration and is calculated according to the following priority of prices: weighted average price (Average), market price (Market), closing price (Close), admitted price (Admitted), middle price (Mid), last price (Last). Indicative yield is calculated according to the following priority of yields: yield to maturity (effective), yield to put/call (effective), current yield.
G-spread
T-spread, bp i
T-spread is calculated as the difference between the issue yield and the yield on government securities of the USA, Great Britain and Germany in the corresponding issue currency and with comparable modified duration (the calculations are based on the effective yields only). The value is computed only for issues in USD, EUR, GBP.
FRANKFURT S.E.09/18/2019 15:47**.** / ***.*** (*.** / *.**)***.**** (*.**)
BERLIN EXCHANGE
i
Foreign bonds compliment the international security selection at Börse Berlin. In Germany many of these are traded only in Berlin. Naturally Börse Berlin has the full range of fixed interest securities of the German Federation and its constituencies with bonds from companies and other issuers also on offer. Certificates and warrants round off the security offering in Berlin.
09/18/2019 16:20**.* / ***.*** (*.** / *.**)***.**** (*.**)
FRANKFURT S.E.09/17/2019*** / *** (*** / ***)*** (***)******Archive
BERLIN EXCHANGE
i
Foreign bonds compliment the international security selection at Börse Berlin. In Germany many of these are traded only in Berlin. Naturally Börse Berlin has the full range of fixed interest securities of the German Federation and its constituencies with bonds from companies and other issuers also on offer. Certificates and warrants round off the security offering in Berlin.
09/17/2019*** / *** (*** / ***)*** (***)******Archive
FINRA TRACE09/17/2019*** / *** (*** / ***)*** (***)******Archive
US OTC MARKET09/16/2019*** / *** (*** / ***)*** (***)******Archive
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Bond classification

Subordinated
Sinkable bond
Perpetual
Convertible
Structured product
Restructuring
Securitization
Mortgage bonds
Trace-eligible
Covered
Foreign bonds
CDO
Sukuk
Retail bonds
Supranational bond issues
Green bonds
Non-Marketable Securities

Identifiers

ISIN / ISIN RegSUS001546AS98
CUSIP / CUSIP RegS001546AS9
CFI / CFI RegSDBFUDR
FIGI / FIGI RegSBBG007377HC7
WKN / WKN RegSA1ZPY5
SEDOLBRL5BX2
TickerAKS 7.625 10/01/21

Primary placement

Issuer rating on issue date (M/S&P/F)***/***/***
Placement**/**/****
Initial issue price (yield)**.***% (*.**%)
Spread over US Treasuries, bp***.**
Settlement Duration*.*

Participants

Bookrunner: Credit Suisse, Citigroup, JP Morgan
Depository: DTCC

Payment schedule

*****

Coupon dateCoupon, %Coupon payment amount, USDRedemption of principal, USD
Show previous
1**/**/*****.*****.*
2**/**/*****.*****.**
3**/**/*****.*****.**
4**/**/*****.*****.**
5**/**/*****.*****.**
6**/**/*****.*****.**
7**/**/*****.*****.**
8**/**/*****.*****.**
9**/**/*****.*****.**
10**/**/*****.*****.**
11**/**/*****.*****.**
12**/**/*****.*****.**
13**/**/*****.*****.**
14**/**/*****.*****.***,***
Show following
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Early redemption terms

*****

DateOption typeOption styleBenchmark spread, b.p.Price
Show previous
**/**/****callMake-Whole Call**
**/**/****call***.**
**/**/****call***.**
**/**/****call***
Show following
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Issue ratings

AK Steel, 7.625% 1oct2021, USD

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- local currency03/09/2017
S&P Global Ratings***/***Local Currency LT06/13/2016
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Issuer ratings

AK Steel

Rating AgencyRating / OutlookScaleDate
Moody's Investors Service ***/***LT- local currency03/09/2017
S&P Global Ratings***/***Foreign Currency LT06/25/2018
S&P Global Ratings***/***Local Currency LT06/25/2018
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Guarantor ratings

AK Steel Holding

Rating AgencyRating / OutlookScaleDate
S&P Global Ratings***/***Foreign Currency LT06/25/2018
S&P Global Ratings***/***Local Currency LT06/25/2018
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