OREANDA-NEWS. July 28, 2011. Severstal Columbus, LLC has signed a USD 350 million syndicated revolving credit facility.  The proceeds of the committed facility will be used for working capital, general corporate purposes and to refinance the existing USD 150 million revolving credit facility. The USD 350 million facility has a maturity of five years.

A successful syndication allowed Severstal Columbus, LLC to increase the size of the facility from an originally-sought level of USD 300 million to USD 350 million.  A total of ten banks participated in the facility.

Citigroup Global Markets Inc. and Wells Fargo Capital Finance, LLC acted as joint lead arrangers and joint book runners of the facility and Citibank, N.A. will be the administrative agent and the collateral agent.