09
May
20:57
Tree Island Steel renews credit loan facility
Tree Island Steel, a Vancouver-based wire producer, has renewed its revolving credit loan facility with Wells Fargo. Kallanish understands the company has chosen to reduce its overall credit limit with the facility from CAD 80 million ($59.8m) to CAD 35m, and that interest will be charged based on the borrowing of Canadian or US dollars.
This reduction in credit usage is due to the projected influx of cash generated from the closure and impending sale of…
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Anonymous
Very good overview of the weekly steel market.
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