Metals USA subsidiaries extend ABL facility to 2016, lower pricing

By Angela McDaniels

Tacoma, Wash., Aug. 15 - Metals USA Holdings Corp. subsidiaries Flag Intermediate Holdings Corp. and Metals USA, Inc. amended their $525 million asset-based credit facility, according to a company news release.

The amendment extended the maturity date to Aug. 10, 2016, lowered the effective borrowing cost by about 50 basis points and modified some covenants. The changes became effective Wednesday.

Bank of America, NA is the administrative agent. Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Capital Finance, LLC, Barclays Capital Inc. and U.S. Bank NA are the bookrunners and lead arrangers.

Metals USA is based in Fort Lauderdale, Fla., and provides products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets.

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