Metallus entered into a Fifth Amended and Restated Credit Agreement establishing a $300 million secured asset-based revolving credit facility to support working capital, capital expenditures, permitted acquisitions and general corporate purposes. The facility, which matures on June 30, 2031, includes a $15 million letter of credit sublimit and a $40 million swingline sublimit, with options to upsize commitments by up to $200 million and add a separate $30 million FILO tranche. Borrowings are subject to a borrowing base tied to eligible receivables, inventory, and machinery and equipment, with interest based on ABR or Term SOFR plus a margin and a 0.25% commitment fee on unused amounts. As of June 30, 2026, $5.3 million was outstanding in letters of credit.
Agreement details:
- Agreement type: $300 million secured asset-based revolving credit facility
- Counterparty: JPMorgan Chase Bank, as Administrative Agent, and lenders
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: 5 years (matures Jun 30 2031)
- Reason: Enhance liquidity and fund working capital, capex and acquisitions
Original SEC Filing:
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