SDI Announces New $1.2 Billion Revolving Credit Facility

BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners.

SEATTLE (Scrap Monster): Fort-Wayne, Indiana-headquartered Steel Dynamics, Inc. announced that it has entered a new senior unsecured revolving credit facility of $1.2 billion. The facility will mature in December 2024. The facility size could be further increased by additional $500 million in order to support future growth initiatives, subject to certain conditions.

Announcing the decision, Theresa E. Wagler, Executive Vice President and Chief Financial Officer noted that the new facility is a testimony of the company’s strong relationship with the financial institutions. It recognizes the strong balance sheet profile and cash flow generation capability of the company. The new credit facility reflects the company’s recent upgrade to investment grade status, she added.

ALSO READ: SDI Declares Sinton, Texas as the Site for its New Flat Roll Steel Mill

BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners.

The company’s board of directors had recently declared a quarterly cash dividend of $0.24 per common share.

• U.S. Steel to restart second blast furnace at Granite City Works
• Novelis Honored with 2025 German Ecodesign Prize for Innovative Recycled Aluminium Sheet
• Codelco, Glencore Move Forward with Large-Scale Copper Smelter Project in Chile
• worldsteel Shortlists Finalists for the steelChallenge-20 Global Championship