Geneva Steel plans to refinance some of its privately held debt to take advantage of lower interest rates.

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The company filed a registration statement last week with the Securities Exchange Commission stating it will make a public offering of $125 million of aggregate principal debt. The money will be used to refinance about $113.7 million of debt. The remaining $11.3 million will pay for several modernization projects, said Mitch Haws, director of corporate communication.The projects are primarily improvements in the rolling mill, including roll bending, hydraulic gauge controls and an automatic roll changer.

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