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Russel Metals Extends Its $450 Million Credit Facility

Dec 17, 2021•over 3 years ago

Amount Raised

$450 Million

Toronto

Description

Russel Metals Inc. (TSX: RUS) announces that it has extended its $450 million credit facility with a syndicate of banks led by RBC Capital Markets. The credit facility has been extended from September 21, 2023 to September 21, 2025. In addition to the extension, the amended credit agreement includes a more favourable interest rate grid.

Company Information

Company

Russel Metals

Location

Toronto, Ontario, Canada

About

Russel Metals is one of the largest metals distribution companies in North America, with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy products and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals. Its energy products operations carry a specialized product line focused on the needs of energy industry customers. Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis.

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