Reliance, Inc. Announces New Term Loan Facility, Maintaining Strong Financial Flexibility

Rhea-AI Summary

Reliance (NYSE:RS) has secured a new $400 million unsecured term loan facility maturing in August 2028. The facility refinances the company's existing $400 million senior unsecured notes that were due August 15, 2025.

The company maintains a strong financial position with a net debt-to-EBITDA ratio of 0.9x as of June 30, 2025. The new facility supports Reliance's capital allocation strategy, focusing on organic growth, strategic acquisitions, and shareholder returns through dividends and share repurchases.

Positive

• Successful refinancing of $400M debt with same principal amount
• Strong financial health with low net debt-to-EBITDA ratio of 0.9x
• Extended debt maturity to August 2028, improving financial flexibility
• Maintained capacity for growth investments and shareholder returns

Negative

• New term loan facility may carry different interest terms than previous notes

SCOTTSDALE, Ariz., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE: RS) announced today that effective August 14, 2025, it has entered into a $400 million unsecured term loan facility maturing August 2028 (the “Facility”). The proceeds of the Facility were used to refinance the Company’s $400 million senior unsecured notes maturing August 15, 2025. The new Facility complements Reliance’s existing capital structure, further optimizing its balance sheet while maintaining ample capacity to invest in high-return opportunities.

“We are very pleased with the terms achieved for this Facility which extend our debt maturities and further enhance our strong liquidity,” said Karla Lewis, President and Chief Executive Officer of Reliance. “The refinancing enables us to continue to advance our opportunistic capital allocation strategies of organic growth, strategic acquisitions, and consistent returns to stockholders through quarterly dividends and opportunistic share repurchases. Our net debt-to-EBITDA ratio of 0.9x as of June 30, 2025 underscores our commitment to maintaining a conservative leverage profile while driving sustainable value creation through our balanced capital deployment strategy. We remain committed to capturing meaningful growth opportunities and delivering enduring operational success. We greatly appreciate the continued strong support from our banking partners who participated in this transaction."

About Reliance, Inc.
Founded in 1939, Reliance, Inc. (NYSE: RS) is a leading global diversified metal solutions provider and the largest metals service center company in North America. Through a network of approximately 320 locations in 41 states and 10 countries outside of the United States, Reliance 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 focuses on small orders with quick turnaround and value-added processing services. In 2024, Reliance’s average order size was $2,980, approximately 50% of orders included value-added processing, and approximately 40% of orders were delivered within 24 hours. Reliance’s press releases and additional information are available on the Company’s website at reliance.com.

Forward-Looking Statements

This press release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “believe,” and similar words and may include, but are not limited to, discussions of Reliance’s liquidity, business strategies including execution of capital allocation priorities and stockholder returns, and expectations concerning the Company’s future results of operations and capital resources. Forward-looking statements involve known and unknown risks and uncertainties and are not guarantees of future performance. The expected benefits of the transaction may not materialize as expected. Actual outcomes and results may differ materially from these forward-looking statements as a result of various important factors, including, but not limited to, those disclosed in our most recent Form 10-K filed with the United States Securities and Exchange Commission and subsequent reports. These forward-looking statements are based on management's expectations and assumptions as of today’s date and Reliance disclaims any obligation to publicly update or revise any forward-looking statements.

CONTACT:
(213) 576-2428
investor@reliance.com

or Addo Investor Relations
(310) 829-5400

FAQ

What is the size and maturity of Reliance's (RS) new term loan facility?

Reliance secured a $400 million unsecured term loan facility maturing in August 2028.

What is Reliance's (RS) current net debt-to-EBITDA ratio?

Reliance's net debt-to-EBITDA ratio stands at 0.9x as of June 30, 2025, indicating a conservative leverage profile.

How will Reliance (RS) use its financial flexibility?

Reliance plans to use its financial flexibility for organic growth, strategic acquisitions, quarterly dividends, and share repurchases.

What debt did Reliance (RS) refinance with the new facility?

The new facility refinanced Reliance's $400 million senior unsecured notes that were maturing on August 15, 2025.

Who is the current CEO of Reliance (RS)?

Karla Lewis is the President and Chief Executive Officer of Reliance.