Russel Metals extended its $450 million credit facility with a syndicate of banks led by RBC Capital Markets. The credit facility has been extended from September 21, 2023 to September 21, 2025. In addition to the extension, the amended credit agreement includes a more favourable interest rate grid.

Martin L. Juravsky, Executive Vice President and CFO of Russel commented, "We are very pleased to have the ongoing support of our long-standing lenders, extend the term and thereby maintain our strong financial flexibility. In addition, the combination of the more favourable interest rate grid, the recent credit rating upgrade by S&P Global to BB+ and the initiation of an investment grade corporate credit rating by DBRS Morningstar at BBB (low), will lower the cost of our bank debt."