Steel Dynamics announces full repayment of $228.13 million term loan

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – Steel Dynamics, Inc. fully repaid the $228,125,000 outstanding under its senior secured term loan, according to a press release.

The term loan was provided for by a Nov. 14, 2014 credit agreement and was repaid using available cash.

"Combined with the success of our recent senior note refinancing, this debt repayment further establishes a strong capital structure and credit profile to support our continued growth,” Theresa E. Wagler, executive vice president and chief financial officer of Steel Dynamics, said in the release.

“The combined transactions are expected to reduce our annual interest expense by approximately $10 million in 2017.”

Fort Wayne, Ind.-based Steel Dynamics is a domestic steel producer and metals recycler.

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