A.M. Castle to repurchase senior secured notes via revolver expansion

By Toni Weeks

San Luis Obispo, Calif., Jan. 22 - A.M. Castle & Co. plans to continue purchasing and retiring its senior secured notes with borrowings from its revolving credit facility, according to a press release.

The company said it purchased and retired $15 million of the notes on the open market in 2013 using cash balances. On Wednesday it expanded its credit facility by $25 million to $125 million, saying the additional availability will allow the company to continue the repurchase program and, at the same time, preserve liquidity.

A.M. Castle is a distributor of specialty metal and plastic products, value-added services and supply-chain services based in Oak Brook, Ill.

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