Financing ·
Worthington Steel, Inc. entered into a $550,000,000 asset-based revolving credit agreement with Wells Fargo Bank…
WSWorthington Steel, Inc.
Worthington Steel, Inc. entered into a $550,000,000 asset-based revolving credit agreement with Wells Fargo Bank, National Association, as agent, to refinance and replace its previous credit agreement. The facility is secured by substantially all of the company's assets and matures on June 25, 2031. The company may elect to increase the facility to a total of up to $750,000,000 without lender consent, potential additional committed capacity through the0.0 Klӧckner Increase Effective Date. The proceeds will be up to $550,000,000 to finance the Klӧckner Acquisition Transactions, working capital, and general corporate purposes. Worthington Steel, Inc. operates in the steel manufacturing industry.