Edgen Group Inc. (NYSE: EDG) announced that its indirect subsidiary, Edgen Murray Corp., has priced its offering of $540 million aggregate principal amount of its 8.750% senior secured notes due 2020 in a private offering. The offering is expected to close on Oct. 16, 2012

The offering size has been reduced to $540 million from $575 million as Edgen has elected not to repay from the proceeds of the notes offering an 8% note payable issued to the former owner of one of its predecessor companies as originally contemplated.

The company intends to use all of the net proceeds from this offering to repay or retire all of EMC’s outstanding senior secured notes. Any remaining net proceeds would be used for general corporate purposes.