Reliance Steel & Aluminum to repay bank debt with note proceeds

By Sara Rosenberg

New York, Nov. 13 - Reliance Steel & Aluminum Co. plans to repay outstanding debt under its credit facility using proceeds from a proposed $600 million notes offering, according to a company news release.

Loan borrowings to be repaid will include those made to fund the repurchase by Earle M. Jorgensen Co. of its 9¾% senior secured notes due 2012.

Reliance Steel & Aluminum is a Los Angeles-based metals service center company.

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