Commercial Metals Company announced that it entered into amended Credit and Receivables Purchase Agreements.

The amended Credit Agreement provides access to USD 300 million for a period of 5 years, with an option to increase by an additional USD 100 million.

In addition to improved funded pricing, the commitment fee under the Credit Agreement provides annual savings in excess of USD 1.3 million.

The Receivables Purchase Agreement was amended to increase the funding capacity to USD 200 million which, when combined with the amended Credit agreement, maintains the Company's total borrowing capacity at USD 500 million.

The Receivables Purchase Agreement term was also extended for a period of 3 years. CMC added an additional financial institution as a purchaser to provide additional liquidity at cost effective funded pricing.

Ms Barbara Smith senior VP & CFO of CMC said “We value the strong relationships we have with our bank group and appreciate their support and confidence in the Company by providing a committed Credit Agreement for 5 years. This cost effective access to a total of USD 500 million will provide Commercial Metals Company with the liquidity to grow our business over the long term.”