Subsequent to the repurchase of AUD 305.4 million of US Private Placement Notes in May 2012, BlueScope Steel Limited announces it has repurchased a further USD 88.2 million of the Notes on August 7th 2012 at par, plus accrued interest.

The repurchase will be funded in US dollars using existing undrawn lines under the company's syndicated bank facility. No early redemption or make whole costs were incurred by BlueScope in effecting the repurchase, and based on the company's drawn debt balance at June 30th 2012, the USD 88.2 million repurchase is expected to realize a pro forma reduction in the company's annual interest expense of approximately AUD 6 million per annum.

Source - BlueScope Steel Limited

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