Olympic Steel amends loan, increasing revolver size, extending tenor

By Sara Rosenberg

New York, April 30 - Olympic Steel Inc. amended its credit facility on Monday, increasing the revolver size to $130 million from $110 million and extending the maturity date by one year to Dec. 15, 2010, according to an 8-K filed with the Securities and Exchange Commission.

Comerica Bank is the administrative agent on the deal.

Olympic Steel is a Bedford Heights, Ohio-based seller and distributor of processed carbon, coated and stainless flat-rolled sheet, and coil and plate steel products.

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