In a recent development, InfraBuild, the prominent Australian integrated steel manufacturer, has successfully closed a substantial $350 million Asset-Backed Term Loan. This financing milestone marks a significant step for InfraBuild, enabling the company to pursue its growth objectives, including the potential acquisition of steel assets in the United States currently owned by GFG Alliance.As Australia's largest vertically integrated steel long manufacturer, InfraBuild has demonstrated strong financial performance throughout the first three quarters of its 2023 fiscal year. The successful closure of this loan further reinforces the company's commitment to continuous growth and diversification.InfraBuild operates recycling, manufacturing, and distribution operations across Australia, positioning itself as a key player in the country's steel industry. To further support its expansion plans, the company is actively exploring additional financing alternatives. The proceeds from these financing endeavors, combined with the Asset-Backed Term Loan, will facilitate InfraBuild's pursuit of potential acquisitions in the US steel market.Jefferies LLC played a pivotal role as the sole arranger of the Asset-Backed Term Loan, which garnered substantial interest from funds and accounts managed by BlackRock and Silver Point Finance. Their involvement highlights the confidence in InfraBuild's business strategy and growth potential.Dak Patel, InfraBuild's Interim CEO and Managing Director, expressed his optimism about the financing, emphasizing its strategic significance in supporting the company's ongoing expansion and commitment to serving various markets such as infrastructure, commercial and residential construction, agriculture, and mining. Patel also highlighted the growing demand for sustainable steel and the opportunities it presents for InfraBuild.The potential acquisition of steel assets in the United States represents a crucial avenue for InfraBuild's growth and diversification. While the specifics of the acquisition, including the inclusion of Keystone Consolidated Industries, Johnstown Wire Technologies, and Georgetown steelworks, remain undisclosed, this move aligns with InfraBuild's objective to strengthen its operations and capitalize on emerging opportunities in the steel industry.