New York, July 20, 2016 -- Moody's Investors Service said that Ryerson Holding Corporation (B3 stable) has commenced an underwritten public offering of 5 million shares of common stock and has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares. The company intends to use the net proceeds from this offering to repurchase or redeem outstanding debt including its 11.25% Senior Notes due 2018. Moody's views the stock offering and anticipated debt pay down as credit positive.
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