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Steel Dynamics gets $1.2 billion revolver with extended maturity
By Rebecca Melvin
New York, Dec. 3 – Steel Dynamics, Inc. entered into a new $1.2 billion senior unsecured revolving credit facility that gives the company the ability to increase the facility size by an amount up to $500 million, and extends the maturity date by a year and a half to Dec. 3, 2024, according to an 8-K filing with the Securities and Exchange Commission.
The new credit agreement replaces the company’s third amended and restated credit agreement of June 28, 2018.
BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo Securities, LLC served as joint lead arrangers and joint bookrunners of the new facility, which is available for working capital and other general corporate purposes.
Steel Dynamics is a Fort Wayne, Ind.-based steel producer and metals recycler.
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