No notes now: BlueScope

BlueScope Steel has announced that it has cancelled a $US 300 million unsecured note offering.

The offer of Senior Unsecured Notes was announced on November 2 to institutional investors.

"The notes issue will diversify BlueScope Steel's funding sources and extend its debt maturities," AAP reported the company as saying at the time.

Today’s cancellation was blamed on US credit market volatility.

"While BlueScope Steel received significant investor interest in the proposed offering, this interest did not ultimately result in terms and conditions that met the company's expectations," BlueScope’s statement read.

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