Ryerson Tull in-market with $1 billion revolver

By Sara Rosenberg

New York, Nov. 12 - Ryerson Tull Inc. is in-market with a $1 billion asset-based revolving credit facility, according to a market source. JPMorgan is the lead bank on the deal with GE Capital involved in the deal as well.

The revolver launched via a bank meeting Tuesday, the source added.

In October, Ryerson Tull said that it would be getting a new secured credit facility in connection with its acquisition of Integris Metals Inc. for $410 million plus the assumption of about $250 million of debt. The company anticipates completing the acquisition in early 2005 subject to customary closing conditions and regulatory approval.

Ryerson Tull is a Chicago-based distributor and processor of metals and other materials. Integris is a Minneapolis-based metals service center.

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