Ipsco gets new $150 million revolver

By Sara Rosenberg

New York, Nov. 22 - Ipsco Inc. closed on a new $150 million three-year unsecured revolving credit facility, according to a company news release. TD Securities and JP Morgan Securities were the lead banks on the deal that includes a total of nine lenders.

The revolver, which replaces the company's $200 million revolver that was set to expire in March 2005, can be used for general corporate purposes.

"Ipsco is delighted to have established a three year unsecured revolving credit facility demonstrating our bank group's confidence in our financial strength," said Vicki Avril, senior vice president and chief financial officer, in the release.

Ipsco is a Lisle, Ill.-based steel producer.

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