Metallus enters $300 million asset-based credit facility maturing June 30, 2031
Metallus Inc. entered into a Fifth Amended and Restated Credit Agreement on June 30, 2026, with JPMorgan Chase Bank, N.A. as administrative agent, providing a $300.0 million asset-based revolving credit facility that replaces a credit agreement dated September 30, 2022. The facility matures June 30, 2031 and is secured by substantially all of the company's and its subsidiary guarantors' personal property, so it adds secured borrowing capacity while also adding covenants that restrict liens, investments, additional debt and distributions to shareholders.
Key points
- Credit facility of $300.0 million, with a $15.0 million letter of credit sublimit and a $40.0 million swingline sublimit
- Company may request up to $200.0 million in commitment increases on up to four occasions, plus a separate $30.0 million first-in, last-out tranche, subject to conditions
- Borrowing availability depends on a borrowing base of eligible receivables, inventory and machinery and equipment; $5.3 million of letters of credit were outstanding as of June 30, 2026
- Facility matures June 30, 2031; interest is based on Adjusted Term SOFR or Alternate Base Rate plus a margin, with a 0.25% unused commitment fee
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 2:07 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 01, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.