Russel Metals extends C$450 million credit facility to 2025

By Rebecca Melvin

Concord, N.H., Dec. 17 – Russel Metals Inc. extended its C$450 million credit facility with a syndicate of banks led by RBC Capital Markets to Sept. 21, 2025, according to a company news release on Friday.

The company also obtained a more favorable interest rate grid, the release stated.

The loan was previously due to terminate on Sept. 21, 2023.

Executive vice president and chief financial officer Martin Juravsky said in the release that the combination of a more favorable interest rate grid, the recent credit rating upgrade by S&P Global to BB+ and the initiation of an investment grade corporate credit rating by DBRS Morningstar at BBB (low), will lower the cost of Russel’s bank debt.

The North American metals distribution company is based in Toronto.

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