Metals USA to refinance 11 1/8% senior secured notes due 2015 via loan

By Tali David

Minneapolis, Oct. 24 - Metals USA, Inc. plans to use the proceeds of its new term loan to refinance its outstanding 11 1/8% senior secured notes due 2015, according to a filing with the Securities and Exchange Commission.

Proceeds will also be used to reduce borrowings under the company's existing asset based loan, pay costs, expenses and fees associated with the new term loan and the notes refinancing and for general corporate purposes, including working capital.

Metals USA is a Houston-based metals processor and distributor.

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