On July 11, 2018, PSC Metals, LLC, Cappco Tubular Products Canada Inc. and certain of their affiliates (collectively, PSC) entered into a new credit agreement which provides for, inter alia, a senior secured asset-based revolving credit facility in the initial principal amount of US$65,000,000. The credit facility is agented by Bank of America, N.A, as Agent, Sole Lead Arranger and Sole Bookrunner.
PSC, one of North America’s largest recyclers of scrap metal products, collects, trades, brokers, processes and recycles ferrous and non-ferrous metal.
Norton Rose Fulbright Canada LLP represented Bank of America, N.A. in Canada with a team consisting of David Amato and Russell Dufault. Jones Day represented Bank of America, N.A. in the United States with a team including Ann Seger and Amanda Bryk.
Gowling WLG (Canada) LLP represented PSC in Canada with a team consisting of Christopher Alam and Kelby Carter. Brown Rudnick LLP represented PSC in the United States with a team consisting of Tia Wallach, Tyler Lewis and Andrew Strehle.