Severstal Columbus signs $350 Million revolving credit facility

Severstal Columbus, LLC has signed a $350 million syndicated revolving credit facility. The proceeds of the committed facility will be used for working capital, general corporate purposes and to refinance the existing $150 million revolving credit facility. The $350 million facility has a maturity of five years.

A successful syndication allowed Severstal Columbus, LLC to increase the size of the facility from an originally-sought level of $300 million to $350 million. A total of ten banks participated in the facility.

Citigroup Global Markets Inc. and Wells Fargo Capital Finance, LLC acted as joint lead arrangers and joint book runners of the facility and Citibank, N.A. will be the administrative agent and the collateral agent.