Aleris gets $600 million amended and restated asset-based facility

By Sara Rosenberg

New York, July 1 - Aleris International Inc. closed on a $600 million amended and restated asset-based multi-currency revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Bank of America Merrill Lynch and J.P. Morgan Securities LLC were the joint lead arrangers on the deal that was completed on June 30 and bookrunners with Barclays Capital, Deutsche Bank Securities Inc and UBS Securities LLC.

Initial pricing on the revolver is Libor plus 200 basis points, but the spread can range from Libor plus 175 bps to 250 bps based on excess availability.

The commitment fee can range from 25 bps to 50 bps based on utilization.

Aleris is a Beachwood, Ohio-based producer of aluminum rolled products and extrusions, aluminum recycling and specification alloy.

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