Real Industry closed a $110 million revolving credit agreement with Bank of America as administrative agent, lender, l/c issuer and swingline lender.

According to a related 8-K filing, a portion of the proceeds of the ABL facility was used to repay the outstanding indebtedness of the existing revolving credit agreement, dated February 27, 2015, as amended with Wells Fargo Bank, the then-current agent and lender, and terminate the existing revolving credit facility. The remaining availability will be used for working capital, capital expenditures and other general corporate purposes of the borrowers. Bank of America may syndicate the ABL facility in the future to add additional lenders.

The ABL facility expires on March 14, 2022, unless earlier terminated in accordance with the revolving credit agreement.

The ABL facility is divided into two sub-facilities, a U.S. sub-facility and a Canadian sub-facility, including an $11 million swingline sub-facility, which can be used by the U.S. borrowers or the Canadian borrower subject to the U.S. subfacility and Canadian subfacility limits. It also includes a $25 million letter of credit sub-facility, of which up to $20 million can be used for letters of credit for the U.S. borrowers and up to $5 million can be used for letters of credit for the Canadian borrower.