TMS International Corporation announced that certain of its subsidiaries, including Tube City IMS Corporation, a leading provider of outsourced industrial services to steel mills globally, have entered into a new five year USD 350 million secured asset based revolving credit facility, which replaces an existing USD 165 million asset based revolving credit facility set to mature in January 2013.

The new ABL Facility is available immediately for loans and the issuance of letters of credit, and allows for borrowings in the United States, Canada, France and the United Kingdom. Subject to certain conditions the company may elect to increase the size of the facility from time to time. The ABL Facility has a maturity date of December 2016 and was un drawn at closing.

Mr Daniel Rosati EVP & CFO of TMS International Corporation said that "We are excited about this refinancing because it further enhances our liquidity and positions us well for the future. The company now has an even more solid financial foundation on which we can continue growing our business, particularly in international geographies, over the next five years."

JP Morgan Securities LLC, Wells Fargo Capital Finance, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as Joint Lead Arrangers and Joint Book runners for the ABL Facility.