Reliance Steel enters into $1.5 billion five-year revolver

By Taylor Fox

New York, Sept. 8 – Reliance Steel & Aluminum Co. entered into an amended and restated $1.5 billion five-year unsecured revolving credit facility to replace its existing credit agreement, according to a news release.

The facility includes an increase option for up to an additional $1 billion and allows for prepayments.

The facility does not have an outstanding balance.

Reliance Steel intends to use funds borrowed under the facility for general corporate purposes, growth and stockholder return activities.

Bank of America NA is the administrative agent. JPMorgan Chase Bank, NA and Wells Fargo Bank, NA are co-syndication agents.

BofA Securities, Inc., JPMorgan Chase Bank, NA and Wells Fargo Securities, LLC were joint lead arrangers and joint book managers.

Reliance is a leading global diversified metal solutions provider and metals service center located in Los Angeles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.