Steel Dynamics, Inc. announced that it has amended and extended its senior secured revolving credit facility. The Company renewed its $1.2 billion credit facility and extended the maturity date an additional five years to June 28, 2023.

"We are pleased with the continued long-term support and strong relationships with the financial institutions in our credit facility," stated Theresa E. Wagler, Executive Vice President and Chief Financial Officer. "The renewed facility further enhances our flexibility to not only maintain our current operations, but to promote continued growth."

Subject to certain conditions, the Company has the ability to increase the facility size by a minimum of $750 million, further supporting future growth initiatives. This facility is guaranteed by certain Steel Dynamics subsidiaries and is secured by substantially all of the Company's accounts receivable and inventories. Also, the credit facility provides the Company with the flexibility to effect the release of such collateral when certain conditions are met.

Bank of America Merrill Lynch, PNC Capital Markets LLC and Wells Fargo Securities, LLC served as Joint Lead Arrangers and Joint Bookrunners.