FORT WAYNE, Ind., Dec. 3, 2019 /PRNewswire/ -- Steel Dynamics, Inc.
(the "Company") (NASDAQ/GS: STLD) announced today that it entered
into a new $1.2 billion senior
unsecured revolving credit facility with a maturity date of
December 3, 2024.
"We are pleased with the continued strong relationships with the
financial institutions in our new unsecured credit facility,"
stated Theresa E. Wagler, Executive
Vice President and Chief Financial Officer. "This new credit
facility is reflective of our recent upgrade to investment grade
status and a natural progression of our growth and recognition of
our strong balance sheet profile and sustainable through-cycle free
cash flow generation capability."
Subject to certain conditions, the Company has the ability to
increase the facility size by $500
million, further supporting future growth initiatives.
BofA Securities, Inc., PNC Capital Markets LLC and Wells Fargo
Securities, LLC served as Joint Lead Arrangers and Joint
Bookrunners.
About Steel Dynamics, Inc.
Steel Dynamics is one of
the largest domestic steel producers and metals recyclers in
the United States based on
estimated annual steelmaking and metals recycling capability, with
facilities located throughout the United
States, and in Mexico. Steel Dynamics produces steel
products, including hot roll, cold roll, and coated sheet steel,
structural steel beams and shapes, rail, engineered
special-bar-quality steel, cold finished steel, merchant bar
products, specialty steel sections and steel joists and deck.
In addition, the company produces liquid pig iron and processes and
sells ferrous and nonferrous scrap.
Forward-Looking Statements
This press release
contains some predictive statements about future events, including
statements related to conditions in domestic or global economies,
conditions in steel and recycled metals market places, Steel
Dynamics' revenues, costs of purchased materials, future
profitability and earnings, and the operation of new, existing or
planned facilities. These statements, which we generally precede or
accompany by such typical conditional words as "anticipate",
"intend", "believe", "estimate", "plan", "seek", "project", or
"expect", or by the words "may", "will", or "should", are intended
to be made as "forward-looking," subject to many risks and
uncertainties, within the safe harbor protections of the Private
Securities Litigation Reform Act of 1995. These statements speak
only as of this date and are based upon information and
assumptions, which we consider reasonable as of this date,
concerning our businesses and the environments in which they
operate. Such predictive statements are not guarantees of future
performance, and we undertake no duty to update or revise any such
statements. Some factors that could cause such forward-looking
statements to turn out differently than anticipated include: (1)
the effects of uncertain economic conditions; (2) cyclical and
changing industrial demand; (3) changes in conditions in any of the
steel or scrap-consuming sectors of the economy which affect demand
for our products, including the strength of the non-residential and
residential construction, automotive, manufacturing, appliance,
pipe and tube, and other steel-consuming industries; (4)
fluctuations in the cost of key raw materials and supplies
(including steel scrap, iron units, zinc, graphite electrodes, and
energy costs) and our ability to pass on any cost increases; (5)
the impact of domestic and foreign imports, including trade policy,
restrictions, or agreements; (6) unanticipated difficulties in
integrating or starting up new, acquired or planned businesses or
assets; (7) risks and uncertainties involving product and/or
technology development; and (8) occurrences of unexpected plant
outages or equipment failures.
More specifically, we refer you to Steel Dynamics' more detailed
explanation of these and other factors and risks that may cause
such predictive statements to turn out differently, as set forth in
our most recent Annual Report on Form 10-K under the headings
Special Note Regarding Forward-Looking Statements and Risk Factors,
in our quarterly reports on Form 10-Q or in other reports which we
from time to time file with the Securities and Exchange Commission.
These are available publicly on the SEC website, www.sec.gov, and
on the Steel Dynamics website, www.steeldynamics.com: Investors:
SEC Filings.
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SOURCE Steel Dynamics, Inc.