Olympic Steel expands asset-based revolver to $625 million

By Sara Rosenberg

New York, Jan. 3 – Olympic Steel Inc. increased the size of its asset-based revolving credit facility to $625 million from $475 million, according to a news release.

Following the company’s recent $131 million acquisition of Metal-Fab Inc., Olympic Steel’s total debt under the revolver is about $297 million, with availability of around $280 million, the release added.

Olympic Steel is a Cleveland-based metals service center. Metal-Fab is a manufacturer of venting solutions for residential, commercial and industrial applications.

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