LOS ANGELES--(BUSINESS WIRE)--
Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it has
amended and restated its existing $1.5 billion unsecured revolving
credit facility and raised $500 million in a new term loan. The credit
agreement has a term of five years, expiring April 4, 2018 and includes
an increase option of the revolving credit facility for up to an
additional $500 million. Both facilities allow for prepayments.
David H. Hannah, Chairman and CEO of Reliance said, “These financing
transactions are a significant step in obtaining the financing necessary
to complete our previously announced acquisition of Metals USA that we
expect to close in the 2013 second quarter. The bank markets remain
favorable and we are happy with the pricing and other terms under the
new facility. We appreciate the continued support of the syndicate of 26
banks involved in our credit facility.”
Bank of America N.A. is the Administrative Agent and JPMorgan Chase
Bank, N.A. and Wells Fargo Bank, National Association are Co-Syndication
Agents. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC and Wells Fargo Securities, LLC were the Joint Lead
Arrangers and Joint Book Managers.
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California,
is the largest metals service center company in North America. Through a
network of more than 240 locations in 38 states and ten countries
outside of the United States, the Company provides value-added metals
processing services and distributes a full line of over 100,000 metal
products to more than 125,000 customers in a broad range of industries.
Reliance Steel & Aluminum Co.’s press releases and additional
information are available on the Company’s web site at www.rsac.com.
The Company was named to the 2012 “Fortune500” List and
the 2012 Fortune List of “The World’s Most Admired
Companies.”
This release may contain forward-looking statements. Actual results and
events may differ materially as a result of a variety of factors, many
of which are outside of Reliance Steel & Aluminum Co.’s control. Risk
factors and additional information are included in Reliance Steel &
Aluminum Co.’s reports on file with the Securities and Exchange
Commission, including Reliance Steel & Aluminum Co.’s Annual Report on
Form 10-K for the year ended December 31, 2012.
Reliance Steel & Aluminum Co.
Brenda Miyamoto
Investor
Relations
213-576-2428
investor@rsac.com
or
Addo
Communications
310-829-5400
Source: Reliance Steel & Aluminum Co.