Commercial Metals Extends Credit Agreement Maturity Date

Commercial Metals Company (NYSE:CMC) filed a Form 8-K with the Securities and Exchange Commission on October 30, 2024. The filing disclosed that the company entered into the First Amendment to the Sixth Amended and Restated Credit Agreement on the same day.

The Amendment involves Commercial Metals Company, certain subsidiaries as guarantors, Bank of America, N.A. acting as the Administrative Agent, Swing Line Lender, and L/C Issuer, along with the participating lenders. The Sixth Amended and Restated Credit Agreement, initially dated October 26, 2022, established a revolving credit facility totaling $600.0 million and set the maturity date for October 26, 2027.

The recent Amendment primarily focused on extending the maturity date for the Revolving Credit Facility to October 26, 2029. It is important to note that this summary of the Amendment is not exhaustive and is complemented by the full text of the Amendment, available as Exhibit 10.1 in the filed Current Report on Form 8-K.

Moreover, the creation of this financial obligation falls under Item 2.03 of the filing, with cross-reference to the specifics outlined in Item 1.01. Additionally, the filing noted that there were no new financial statements included in the submission.

As required, the company’s representative, Paul J. Lawrence, Senior Vice President and Chief Financial Officer, signed off on the filing on October 31, 2024. Commercial Metals continues to update stakeholders and the public on significant financial developments affecting the company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Commercial Metals’s 8K filing here.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.