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CORPAC Steel Products Secures $150 Million Credit Facility for Global Expansion

Published on July 21, 2011 by Corpac

Corpac Steel Products, Corp. (www.corpacsteel.com), a global steel distribution and trading company, has closed on a new syndicated revolving credit facility of US $150 million. The facility, which includes an accordion feature, will be primarily used for Corpac’s continuing growth by funding its global operations. The facility was led by Bank of America Merrill Lynch, and is also provided by BankUnited, HSBC, Mercantile Commerce Bank and Societe Generale.

Jorge Woldenberg, Chief Executive Officer of Corpac, commented: “I am very pleased to close on this facility, which extends our financial strength and gives us the flexibility to capitalize on opportunities as and when they arise. As Corpac continues to grow by relentlessly focusing on our customers’ needs, this facility positions us to maximize the potential of our existing operations throughout the world.”

“Not only is Corpac confidently poised to continue our global growth and leadership, but we also have strong support from great financial partners with international success,” added Edgardo Vargas, Chief Financial Officer of Corpac. “This credit facility will support our business for years to come as we expand, as well as strengthen our leadership position in international regions where we already have a significant presence.

 

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