EX-25.1 7 a2233968zex-25_1.htm EX-25.1
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Exhibit 25.1

 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE


CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association
(Jurisdiction of incorporation of
organization if not a U.S. national
bank)		   94-1347393
(I.R.S. Employer
Identification No.)
101 North Phillips Avenue
Sioux Falls, South Dakota
(Address of principal executive offices)		  
57104
(Zip code)

Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)


STEEL DYNAMICS, INC.
(Exact name of obligor as specified in its charter)

Indiana
(State or other jurisdiction of
incorporation or organization)		   35-1929476
(I.R.S. Employer
Identification No.)
7575 West Jefferson Blvd.
Fort Wayne, Indiana
(Address of principal executive offices)		   46804
(Postal code)


4.125% Senior Notes due 2025 and
Guarantees of 4.125% Senior Notes due 2025
(Title of the indenture securities)

   


GUARANTORS

Exact Name of Obligor
as Specified in its Charter
  State or Other
Jurisdiction of
Incorporation or
Organization 		  I.R.S. Employer
Identification
Number 		  Address of Principal
Executive Offices

Jackson Iron & Metal Company, Inc. 

   Michigan     38-2604041   7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Marshall Steel, Inc. 

  

Delaware

    
62-1527726		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

New Millennium Building Systems, LLC

  

Indiana

    
35-2083989		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

OmniSource, LLC (f/k/a OmniSource Corporation)

  

Indiana

    
35-0809317		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

OmniSource Limited, LLC (f/k/a OmniSource, LLC)

  

Indiana

    
35-2046863		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

OmniSource Southeast, LLC

  

Delaware

    
56-2256626		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

OmniSource Transport, LLC

  

Indiana

    
35-2084665		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Roanoke Electric Steel Corporation

  

Indiana

    
20-3663442		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Steel Dynamics Sales North America, Inc. 

  

Indiana

    
32-0042039		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Steel Dynamics Columbus, LLC

  

Delaware

    
20-3297920		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Steel Dynamics Enterprises, Inc. 

  

Indiana

    
81-4743772		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Steel of West Virginia, Inc. 

  

Delaware

    
55-0684304		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Steel Ventures, Inc. 

  

Delaware

    
55-0740037		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Superior Aluminum Alloys, LLC

  

Indiana

    
35-2007173		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

SWVA, Inc. 

  

Delaware

    
55-0621605		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

The Techs Industries, Inc. 

  

Delaware

    
20-0540361		  

7575 West Jefferson Blvd.,
Fort Wayne Indiana 46804

Item 1.    General Information.    Furnish the following information as to the trustee:

    (a)
    Name and address of each examining or supervising authority to which it is subject.

      Comptroller of the Currency
      Treasury Department
      Washington, D.C.

      Federal Deposit Insurance Corporation
      Washington, D.C.

      Federal Reserve Bank of San Francisco
      San Francisco, California 94120

    (b)
    Whether it is authorized to exercise corporate trust powers.

      The trustee is authorized to exercise corporate trust powers.

Item 2.    Affiliations with Obligor.    If the obligor is an affiliate of the trustee, describe each such affiliation.

        None with respect to the trustee.

        No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15.    Foreign Trustee.    Not applicable.

Item 16.    List of Exhibits.    List below all exhibits filed as a part of this Statement of Eligibility.

Exhibit 1.   A copy of the Articles of Association of the trustee as now in effect.*

Exhibit 2.
 
A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated January 14, 2015.*

Exhibit 3.
 
A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated January 6, 2014.*

Exhibit 4.
 
Copy of By-laws of the trustee as now in effect.*

Exhibit 5.
 
Not applicable.

Exhibit 6.
 
The consent of the trustee required by Section 321(b) of the Act.

Exhibit 7.
 
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

Exhibit 8.
 
Not applicable.

Exhibit 9.
 
Not applicable.
*
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit to the Filing 305B2 dated March 13, 2015 of Navient Funding, LLC and Navient Credit Funding, LLC, file number 333-190926.


SIGNATURE

        Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Jacksonville and State of Florida on the 5th day of December, 2017.

    WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/ TINA GONZALEZ
 Tina Gonzalez
 Vice President


EXHIBIT 6

December 5, 2017

Securities and Exchange Commission
Washington, D.C. 20549

Gentlemen:

        In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

    Very truly yours,

 
 
WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/ TINA GONZALEZ
 Tina Gonzalez
 Vice President


Exhibit 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business September 30, 2017, filed in accordance with 12 U.S.C. §161
for National Banks.

 
    
   Dollar Amounts
In Millions 		 

ASSETS

              

Cash and balances due from depository institutions:

              

Noninterest-bearing balances and currency and coin

         $ 18,593  

Interest-bearing balances

           205,447  

Securities:

              

Held-to-maturity securities

           142,316  

Available-for-sale securities

           254,889  

Federal funds sold and securities purchased under agreements to resell:

              

Federal funds sold in domestic offices

           118  

Securities purchased under agreements to resell

           30,628  

Loans and lease financing receivables:

              

Loans and leases held for sale

           7,834  

Loans and leases, net of unearned income

     924,987        

LESS: Allowance for loan and lease losses

     10,292        

Loans and leases, net of unearned income and allowance

           914,695  

Trading Assets

           45,303  

Premises and fixed assets (including capitalized leases)

           7,810  

Other real estate owned

           691  

Investments in unconsolidated subsidiaries and associated companies

           11,686  

Direct and indirect investments in real estate ventures

           339  

Intangible assets

              

Goodwill

           22,481  

Other intangible assets

           16,825  

Other assets

           58,325  
​ ​ ​ ​ ​ ​ ​ ​

Total assets

         $ 1,737,980  
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​

LIABILITIES

              

Deposits:

              

In domestic offices

         $ 1,242,149  

Noninterest-bearing

     425,384        

Interest-bearing

     816,765        

In foreign offices, Edge and Agreement subsidiaries, and IBFs

           118,326  

Noninterest-bearing

     929        

Interest-bearing

     117,397        

Federal funds purchased and securities sold under agreements to repurchase:

              

Federal funds purchased in domestic offices

           12,165  

Securities sold under agreements to repurchase

           6,652  

Trading liabilities

           10,606  

Other borrowed money

              

(includes mortgage indebtedness and obligations under capitalized leases)

           131,262  

Subordinated notes and debentures

           12,971  

Other liabilities

           40,287  
​ ​ ​ ​ ​ ​ ​ ​

Total liabilities

         $ 1,574,418  

 
    
   Dollar Amounts
In Millions 		 

EQUITY CAPITAL

              

Perpetual preferred stock and related surplus

           0  

Common stock

           519  

Surplus (exclude all surplus related to preferred stock)

           111,189  

Retained earnings

           51,446  

Accumulated other comprehensive income

           20  

Other equity capital components

           0  
​ ​ ​ ​ ​ ​ ​ ​

Total bank equity capital

           163,174  

Noncontrolling (minority) interests in consolidated subsidiaries

           388  
​ ​ ​ ​ ​ ​ ​ ​

Total equity capital

           163,562  
​ ​ ​ ​ ​ ​ ​ ​

Total liabilities, and equity capital

         $ 1,737,980  
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

  John R. Shrewsberry
Sr. EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

Directors
Enrique Hernandez, Jr
Federico F. Pena
James Quigley



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GUARANTORS
SIGNATURE
EXHIBIT 6
Exhibit 7 Consolidated Report of Condition of Wells Fargo Bank National Association of 101 North Phillips Avenue, Sioux Falls, SD 57104 And Foreign and Domestic Subsidiaries, at the close of business September 30, 2017, filed in accordance with 12 U.S.C. §161 for National Banks.