Simpson Thacher Represents Schnitzer Steel Industries, Inc. in $620 Million Senior Revolving Credit Facility
02.15.11
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Simpson Thacher recently represented Schnitzer Steel Industries, Inc. (“Schnitzer Steel”), as the US Borrower, in connection with the five-year, US$620 million and Canadian $30 million revolving credit facility. Bank of America, N.A. acted as administrative agent, Wells Fargo Bank, N.A. acted as syndication agent, The Bank of Tokyo-Mitsubishi UFJ, Ltd. acted as documentation agent and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as sole lead arranger and sole book manager of the credit facility.
Schnitzer Steel is one of the nation’s largest recyclers of scrap metal, a leading provider of used and recycled auto parts and a manufacturer of finished steel products.
The Simpson Thacher team included Marissa Wesely and Diona Park (Credit), Seojung Park (Tax), Susan Kaufman (Executive Compensation and Employee Benefits) and Timothy Mulvihill (Environmental).