04:28 AM EDT, 03/27/2024 (MT Newswires) -- Algoma Steel Group ( ASTL ) said late Tuesday it priced a $350 million offering of 9.125% senior secured second lien notes due 2029 at 100% of the face amount.

The offering is expected to close on or about April 5, subject to customary conditions.

The company said it plans to use net proceeds for general corporate purposes and to strengthen its balance sheet.