Steel Dynamics Inc. said Thursday it plans to issue an offering of $300 million in notes
Net proceeds will be used to repay debt and for general corporate purposes, the company said in a release.
Earlier this week, the company cited weakness in its structural steel and fabrication operations and issued a first-quarter earnings outlook that mostly fell below analysts' estimates.
Steel Dynamics, based in Fort Wayne, Ind., is the country's fifth-largest maker of carbon steel products.
Shares slipped fell 17 cents to $17.71 in midday trading.