Olympic Steel amends revolver to up size in near term by $20 million

By Sara Rosenberg

New York, April 1 - Olympic Steel Inc. amended its credit facility to temporarily increase its revolver by $20 million to $130 million, according to an 8-K filed with the Securities and Exchange Commission Friday.

The increased revolver capacity in only available from March 31 through June 30 and then the revolver reverts back to its previous size of $110 million.

Comerica Bank is the administrative agent on the deal.

The amendment became effective on Thursday.

Olympic Steel is a Bedford Heights, Ohio-based steel service center.

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