WHX Corporation Announces Debt Refinancing (WXCO)

WHX Corporation

today announced that it has successfully refinanced substantially all of its indebtedness principally with its existing lenders or their affiliates. The refinancing was effected through a newly formed, wholly-owned subsidiary of WHX, Handy & Harman Group Ltd, which is the direct parent of Handy & Harman and Bairnco Corporation. On October 15, 2010, H&H Group, together with its subsidiaries, entered into an Amended and Restated Loan and Security Agreement with Wells Fargo Bank, National Association, as administrative agent for the lenders thereunder, pursuant to which Wells Fargo extended a $21 million senior term loan to H&H Group and made available a revolving credit facility in the maximum aggregate principal amount of $89 million.