Reliance Steel & Aluminum Announce Amended, Restate $1.5B Credit Facility, $500M Term Loan

Reliance Steel & Aluminum Co. 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.