U.S. Steel raises $1.2B in bonds, topping most US debt deals

What's the deal? U.S. SteelDealroom has a profile for this one. Try Dealroom → raised $1.2 billion through two international bond issues on July 7, 2026. The first tranche totals $700 million at a 5.2% coupon, maturing in 2031; the second is $500 million at 5.7%, maturing in 2036.

The details: The 2031 notes sold at 99.935% of par, and the 2036 notes at 99.686%. Ten banks ran the placement, including BarclaysDealroom has a profile for this one. Try Dealroom →, BofA SecuritiesDealroom has a profile for this one. Try Dealroom →, Citigroup, Goldman SachsDealroom has a profile for this one. Try Dealroom →, JP MorganDealroom has a profile for this one. Try Dealroom →, Mizuho Financial Group, SMBC Nikko CapitalDealroom has a profile for this one. Try Dealroom →, Morgan StanleyDealroom has a profile for this one. Try Dealroom →, PNC BankDealroom has a profile for this one. Try Dealroom →, and Truist Bank.

By the numbers: At $1.2 billion, the raise ranks in the top 10% of all post-IPO debt rounds in the United States, based on a sample of 4,703 deals. That places it among the larger corporate debt issues the market has seen.

The signal: The split-maturity structure lets U.S. Steel lock in five- and ten-year funding in one move, spreading out when it must repay. Strong bank participation points to solid appetite for the steelmaker's paper.

Read more: Cbonds

Image credit: Ken Lund