STEEL DYNAMICS INC 8-K

What Happened Steel Dynamics, Inc. announced in an 8-K (Item 1.02) that it redeemed and repaid all outstanding 5.000% Senior Notes due 2026 on December 21, 2025. The Notes were originally issued in the principal amount of $400,000,000 under an Indenture dated December 6, 2016 (as amended), with Computershare Trust Company, N.A. (successor to Wells Fargo Bank, N.A.) as trustee. The Company paid 100.000% of the $400,000,000 principal plus accrued and unpaid interest to, but not including, December 21, 2025, delivered the Notes to the trustee for cancellation, and, pursuant to the Indenture, its obligations under that Indenture have been terminated.

Key Details

• Redemption date: December 21, 2025.
• Principal repaid: $400,000,000 of 5.000% Senior Notes due 2026.
• Redemption price: 100.000% of principal plus accrued interest up to (but not including) Dec 21, 2025.
• Indenture (dated Dec 6, 2016) terminated after delivery of the cancelled Notes to the trustee.

Why It Matters This action removes the $400 million 2026 maturity from Steel Dynamics’ debt schedule and ends the company’s obligations under that indenture. For investors, that means the company will no longer incur interest expense on these particular notes and its near-term debt maturities are reduced. It also represents a cash outflow (principal plus accrued interest) on the redemption date, which may affect the company’s short-term liquidity and leverage metrics disclosed in future filings.