RUSSEL METALS EXTENDS AND AMENDS CREDIT FACILITIES
Russel Metals has successfully extended and amended its credit facilities, marking significant improvements in its debt structure. The company has extended its $400 million revolving credit facility and $50 million letters of credit facility to April 30, 2029.
Key developments include:
- Removal of the springing lien provision
- Maintenance of unsecured facilities with no borrowing base restrictions
- Continuation of investment grade financial covenants
- Cancellation of $150 million sidecar bank facility following a $300 million issuance of 4.423% Notes due in 2030
According to CFO Martin L. Juravsky, these changes provide Russel with significant liquidity, flexible financial covenants, and low-cost term debt without financial covenants, supporting the company's ongoing strategic initiatives.
Russel Metals ha con successo esteso e modificato le proprie linee di credito, apportando significativi miglioramenti alla struttura del debito. L'azienda ha prorogato la linea di credito revolving da 400 milioni di dollari e la linea per lettere di credito da 50 milioni di dollari fino al 30 aprile 2029.
Sviluppi chiave includono:
- Eliminazione della clausola di pegno condizionato
- Mantenimento di linee di credito non garantite senza restrizioni sul limite di prestito
- Continuità dei covenant finanziari di livello investment grade
- Risoluzione della linea bancaria sidecar da 150 milioni di dollari a seguito dell’emissione di obbligazioni da 300 milioni di dollari al 4,423% con scadenza 2030
Secondo il CFO Martin L. Juravsky, queste modifiche offrono a Russel una significativa liquidità, covenant finanziari flessibili e debito a termine a basso costo senza covenant, supportando le iniziative strategiche in corso dell’azienda.
Russel Metals ha extendido y modificado con éxito sus facilidades de crédito, logrando mejoras significativas en su estructura de deuda. La compañía ha ampliado su facilidad de crédito revolvente de 400 millones de dólares y su facilidad para cartas de crédito de 50 millones de dólares hasta el 30 de abril de 2029.
Los desarrollos clave incluyen:
- Eliminación de la cláusula de gravamen condicional
- Mantenimiento de facilidades no garantizadas sin restricciones en la base de préstamos
- Continuación de convenios financieros con calificación de grado de inversión
- Cancelación de la facilidad bancaria sidecar de 150 millones de dólares tras la emisión de notas por 300 millones de dólares al 4.423% con vencimiento en 2030
Según el CFO Martin L. Juravsky, estos cambios proporcionan a Russel una liquidez significativa, convenios financieros flexibles y deuda a plazo de bajo costo sin convenios, apoyando las iniciativas estratégicas continuas de la empresa.
Russel Metals는 신용 시설을 성공적으로 연장 및 수정하여 부채 구조에 중요한 개선을 이루었습니다. 회사는 4억 달러 회전 신용 한도와 5천만 달러 신용장 한도를 2029년 4월 30일까지 연장했습니다.
주요 내용은 다음과 같습니다:
- 조건부 담보 설정 조항 제거
- 차입 한도 제한 없는 무담보 시설 유지
- 투자 등급 금융 약정 지속
- 2030년 만기 4.423% 채권 3억 달러 발행에 따른 1억 5천만 달러 사이드카 은행 시설 해지
재무책임자 Martin L. Juravsky에 따르면, 이 변경사항들은 Russel에 상당한 유동성, 유연한 금융 약정 및 금융 약정 없는 저비용 장기 부채를 제공하여 회사의 지속적인 전략적 이니셔티브를 지원합니다.
Russel Metals a réussi à prolonger et modifier ses facilités de crédit, marquant des améliorations significatives dans sa structure d'endettement. La société a étendu sa facilité de crédit renouvelable de 400 millions de dollars et sa facilité de lettres de crédit de 50 millions de dollars jusqu'au 30 avril 2029.
Les points clés incluent :
- Suppression de la clause de nantissement conditionnelle
- Maintien des facilités non garanties sans restrictions de base d'emprunt
- Continuation des engagements financiers de qualité investment grade
- Annulation de la facilité bancaire sidecar de 150 millions de dollars suite à une émission de billets à 4,423% pour 300 millions de dollars échéant en 2030
Selon le directeur financier Martin L. Juravsky, ces changements offrent à Russel une liquidité importante, des engagements financiers flexibles et une dette à terme à faible coût sans engagements financiers, soutenant les initiatives stratégiques en cours de l'entreprise.
Russel Metals hat seine Kreditfazilitäten erfolgreich verlängert und angepasst, was bedeutende Verbesserungen in der Schuldenstruktur darstellt. Das Unternehmen hat seine 400 Millionen Dollar revolvierende Kreditfazilität und die 50 Millionen Dollar Akkreditivfazilität bis zum 30. April 2029 verlängert.
Wesentliche Entwicklungen umfassen:
- Entfernung der bedingten Verpfändungsklausel
- Beibehaltung unbesicherter Fazilitäten ohne Beschränkungen der Kreditbasis
- Fortführung von Finanzklauseln auf Investment-Grade-Niveau
- Auflösung der 150 Millionen Dollar Sidecar-Bankfazilität nach einer Emission von 300 Millionen Dollar 4,423% Notes mit Fälligkeit 2030
Dem CFO Martin L. Juravsky zufolge bieten diese Änderungen Russel erhebliche Liquidität, flexible Finanzklauseln und kostengünstige Endfälligkeiten ohne Finanzklauseln, wodurch die laufenden strategischen Initiativen des Unternehmens unterstützt werden.
- Extended $400M revolving credit and $50M letters of credit facilities to April 2029
- Removed springing lien provision, maintaining unsecured status with no borrowing base restrictions
- Successfully completed $300M Notes issuance at 4.423% due 2030
- Maintains investment grade financial covenants
- Significant liquidity position with flexible financial covenants
- Cancelled $150M sidecar bank facility that was due in 2026
- EXTENDED MATURITIES ON
$450 MILLION - REMOVED SPRINGING LIEN PROVISION
- CANCELLED
$150 MILLION
Martin L. Juravsky, Executive Vice President and CFO of Russel commented, "The recently completed
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SOURCE Russel Metals Inc.
FAQ
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