Bluescope Steel has raised $US500 million ($A670 million) in the US high yield bond market.
Australia's largest steelmaker, which is taking advantage of a ratings upgrade and improved fundraising conditions, said on Friday it issued senior unsecured notes to institutional buyers with an interest rate of 6.5 per cent and maturity of May 2021.
Bluescope, which in February reported first-half net profit more than doubled to $200 million, will use the proceeds to repay a $US300 million unsecured bridge finance facility, and to pay down higher cost notes due in May 2018.
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