Schmolz + Bickenbach to repay revolving credit facility via new notes

By Tali Rackner

Minneapolis, June 14 – Schmolz + Bickenbach AG plans to repay outstanding debt under its senior secured syndicated revolving credit facility using the gross proceeds from a new €150 million note offering, according to a company release.

Revolver proceeds were used to help fund the company’s acquisition of the majority of the sites and facilities of Asco Industries SAS.

The new notes will be issued by indirect subsidiary Schmolz + Bickenbach Luxembourg Finance SA.

Schmolz + Bickenbach is a Lucerne, Switzerland-based steel producer.

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