Ryerson increases credit agreement to $1 billion from $750 million

By Sarah Lizee

Olympia, Wash., June 29 – Ryerson Holding Corp. amended its credit agreement with Bank of America, NA as administrative and collateral agent on Thursday to increase the size to $1 billion from $750 million, according to an 8-K filing with the Securities and Exchange Commission.

All other material terms of the facility are unchanged, the filing noted.

Borrowings continue to bear interest at Libor plus a margin that ranges from 125 basis points to 150 bps, depending on average availability. As of the amendment, interest is Libor plus 125 bps.

Merrill Lynch, Pierce, Fenner & Smith Inc., JPMorgan Chase Bank, NA and Wells Fargo Bank, NA are joint lead arrangers and joint bookrunners. JPMorgan and Wells Fargo are syndication agents.

Deutsche Bank Securities Inc., Bank of Montreal and PNC Bank, NA are co-documentation agents.

Ryerson is a Chicago-based processor and distributor of metals.

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