Metalico signs 125M refinancing

NJBIZ STAFF//November 25, 2013//

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According to the announcement, proceeds from the new facilities were used to pay amounts outstanding under the company’s prior credit agreement, repurchase $37 million of its convertible notes and pay related fees and expenses. The facilities are provided under a six-year senior secured financing agreement with TPG Specialty Lending Inc. Additional funding is provided by PNC Bank National Association.