Olympic Steel (ZEUS) said Tuesday it amended and extended its existing $625 million, five-year asset-based revolving credit facility through April 17, 2030.
The company said the facility remains secured primarily by accounts receivable, inventory, property, equipment and select real estate. The amendment also includes an option to increase the facility by up to $200 million.
After the amendment, Olympic Steel had about $269 million of availability under the facility. The company said it plans to use borrowings for working capital, acquisitions and future growth initiatives.
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