Russel Metals receives consents to amend 6 3/8% notes

New York, May 17 - Russel Metals Inc. said it received the necessary consents to amend its $175 million of 6 3/8% senior notes due March 1, 2014.

The company had asked for approval to amend the note indenture to change reporting obligations, allowing Russel Metals to file only with applicable Canadian provincial securities regulators all annual reports, quarterly reports and other documents.

The Toronto-based metals distribution company said it is a reporting issuer in all provinces of Canada and files annual reports, quarterly reports and other documents under applicable Canadian provincial securities laws.

The change became effective at 6 p.m. ET on May 17.

Russel announced the solicitation on May 4.

It needed consents from holders of at least a majority of the notes. It will pay a consent fee of $5.00 for each $1,000 principal amount of notes.

The solicitation ended at 5 p.m. ET on May 17.

Citigroup Corporate and Investment Banking is solicitation agent (800 558-3745 or call collect 212 723-6106) Global Bondholder Services Corp. is the information and tabulation agent (866 470-4500 or call collect or 212 430-3774).

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