LIBERTY Steel USA has successfully raised a USD 40 million term loan with Eclipse Business Capital to refinance its existing term loan before its maturity in January 2023. In addition to the new term loan, LIBERTY Steel USA increased its existing ABL with Eclipse Business Capital from USD 125 million to USD 150 million, providing additional liquidity to the business so it can build on strong performance through 2022, including the successful restart of the Georgetown rod mill. The refinancing and additional liquidity will enable the business to reinvest in its plants and continue its productivity drive aiming to set world-class standards in its operations. LIBERTY Steel USA Executive Vice President Mr Axel Ampolini said “The successful refinancing of our term loan and the enhancement of our ABL with Eclipse Business Capital off the back of strong results this year shows the growing confidence in the future of our business and concludes our current financing needs.”For H1FY22 (Jan’22-Jun’22) the business recorded a revenue increase of 18% compared to H1 FY21 (Jan’21-Jun’21), while EBITDA increased by 97% for the same period. LIBERTY Steel USA is on course for its most profitable year as it continues to serve its customers with differentiated products, including from its iconic Red Brand range of wire fencing products.
LIBERTY Steel USA has successfully raised a USD 40 million term loan with Eclipse Business Capital to refinance its existing term loan before its maturity in January 2023. In addition to the new term loan, LIBERTY Steel USA increased its existing ABL with Eclipse Business Capital from USD 125 million to USD 150 million, providing additional liquidity to the business so it can build on strong performance through 2022, including the successful restart of the Georgetown rod mill. The refinancing and additional liquidity will enable the business to reinvest in its plants and continue its productivity drive aiming to set world-class standards in its operations. LIBERTY Steel USA Executive Vice President Mr Axel Ampolini said “The successful refinancing of our term loan and the enhancement of our ABL with Eclipse Business Capital off the back of strong results this year shows the growing confidence in the future of our business and concludes our current financing needs.”For H1FY22 (Jan’22-Jun’22) the business recorded a revenue increase of 18% compared to H1 FY21 (Jan’21-Jun’21), while EBITDA increased by 97% for the same period. LIBERTY Steel USA is on course for its most profitable year as it continues to serve its customers with differentiated products, including from its iconic Red Brand range of wire fencing products.
