Commercial Metals draws $180 million term loans for asset purchase

By Susanna Moon

Chicago, Nov. 5 – Commercial Metals Co. drew down $180 million under its delayed-draw term loan facility last Thursday for its acquisition of assets, according to an 8-K filing with the Securities and Exchange Commission.

Also on Thursday, the company acquired some assets from Gerdau SA for a cash purchase price of $600 million.

The purchase was also funded using proceeds of the company’s May offering of 5¾% senior notes due April 2026 and cash on hand.

Commercial Metals manufactures, recycles and markets steel and metal products as well as related materials and services and is based in Irving, Texas.

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