Steel Dynamics seeks amendment to increase facility size by $150 million

By Sara Rosenberg

New York, March 27 - Steel Dynamics Inc. is negotiating an amendment to its senior secured credit facility that would increase the size by about $150 million to $250 million, according to a news release.

The amendment is expected to be completed this month.

In addition, the company plans on repaying amounts outstanding under its senior secured revolver using proceeds from the sale of $300 million in debt securities.

Remaining proceeds will be used for general corporate purposes.

Steel Dynamics is a Fort Wayne, Ind.-based manufacturer and seller of steel products.

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