TORONTO, July 15, 2024 /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has renewed and extended its credit facility with a syndicate of banks led by RBC Capital Markets. The new credit facility has total availability of $600 million and is comprised of: (i) a $400 million revolving credit facility with a maturity of July 2028; (ii) a $50 million letters of credit facility with a maturity of July 2028; and (iii) a $150 million revolving credit facility with a maturity of July 2026. The facility's total availability increased by $150 million, is unsecured with no borrowing base restrictions and includes more flexible investment grade type financial covenants.
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