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TMS International Corp Completes Repricing Of Term Loan

Thursday, 21 Mar 2013 04:30pm EDT 

TMS International Corp announced that the Company successfully completed a repricing of its $300 million term loan facility that is expected to reduce its cash interest costs by approximately $3 million annually. The expected savings are driven by a reduction in the applicable margin charged on Eurodollar borrowings under the facility from 450 basis points to 375 basis points, and by a reduction in the interest rate floor applicable to Eurodollar borrowings from 125 basis points to 100 basis points. 

Company Quote

19 Dec 2014