Ryerson Announces Completion of Amendment and Extension of Revolving Credit Facility

Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today that it has extended the maturity of its $1.0 billion revolving credit facility. The Company expects to continue to use the facility for general corporate purposes including working capital needs, capital expenditures, funding of possible acquisitions, and satisfaction of other obligations of the Company. The revolving credit facility is secured primarily by the inventory and accounts receivable of the company's U.S. and Canadian operating subsidiaries.

Ryerson's President and Chief Executive Officer Eddie Lehner said, "The amendment and five-year extension of our revolving credit facility marks another important advancement in improving our balance sheet and cost of debt capital following our successful bond refinancing completed during July of this year.  We appreciate the ongoing support of the syndicate of banks involved in our asset-based lending facility."

Molly Kannan, Controller and Chief Accounting Officer, added, "We are very pleased with the terms and improved structuring of the facility. Based on market interest rate trends, Ryerson expects to reduce its cash interest expense by an additional $3 million to $5 million annually compared to our prior year revolving credit facility cash interest  while further improving our credit quality and profile."

Bank of America, N.A. is the Administrative Agent and Collateral Agent and JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association are Co-Syndication Agents. BofA Securities, Inc., JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association were the Joint Lead Arrangers and Joint Bookrunners.

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 3,900 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.