Steel Dynamics entered into a new $1.2 billion senior 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 vompany has the ability to increase the facility size by $500 million, further supporting future growth initiatives.

Band of America Securities, PNC Capital Markets and Wells Fargo Securities served as joint lead arrangers and joint bookrunners.

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the U.S. based on estimated annual steelmaking and metals recycling capability,