Algoma Steel Group Inc. announced that it has amended its Credit Agreement to increase the aggregate commitments under its asset-based revolving credit facility (ABL Facility) from US$300 million to US$375 million. This represents an incremental US$75 million in new commitments.
Export Development Canada (EDC) has joined the company’s existing lending syndicate as a direct lender under the ABL Facility. This transaction is part of broader liquidity initiatives being pursued by Algoma to strengthen its financial position.
Rajat Marwah, Chief Financial Officer, stated that this upsizing provides enhanced financial flexibility to support operations and strategic priorities, particularly amidst challenging market conditions brought on by tariffs. The facility remains secured by a first-priority lien on accounts receivable, inventory, and related assets.
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