Loan & DebtJul 1, 2026, 07:01 AM
Metallus Secures $300M Asset-Based Revolving Credit Facility
AI Summary
Metallus Inc. has entered into a Fifth Amended and Restated Credit Agreement, establishing a new $300.0 million asset-based revolving credit facility. This facility, which replaces a previous agreement, includes sublimits for letters of credit and swingline loans, and allows for potential increases in commitments up to an additional $200.0 million, plus a $30.0 million Incremental FILO Tranche. The proceeds will be used for working capital, capital expenditures, permitted acquisitions, and general corporate purposes, with the facility maturing on June 30, 2031.
Key Highlights
- Metallus entered a Fifth Amended and Restated Credit Agreement on June 30, 2026.
- The new asset-based revolving credit facility is for $300.0 million.
- It includes a $15.0 million sublimit for letters of credit and a $40.0 million sublimit for swingline loans.
- The Company can request up to $200.0 million in additional commitments.
- An Incremental FILO Tranche of up to $30.0 million is also available.
- The Credit Facility matures on June 30, 2031.
- Proceeds will finance working capital, capital expenditures, acquisitions, and general corporate purposes.
- $5.3 million was outstanding in letters of credit as of June 30, 2026.
Price Impact
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