Ryerson Tull Closes US$1.1B Secured Credit Facility

On January 4, 2005, Ryerson Tull, Inc. closed a US$1.1 billion asset-based revolving secured credit facility, including a Canadian commitment of US$100 million. The financing was completed in connection with Ryerson Tull’s acquisition of Integris Metals, Inc. from its shareholders, Alcoa Inc. and BHP Billiton.

Ryerson Tull was represented in-house by Joyce Mims, vice-president and general counsel, and Virginia Dowling, deputy general counsel and secretary. Ryerson Tull was also represented in the US by James Patti, Suzanne Alwan, Thais Alexander and Eric Holland of Mayer, Brown, Rowe & Maw LLP; and in Canada by Richard Borins and Amrit Sidhu with assistance from Nicole Cloutier (Quebec matters), Julie Colden (tax) and Doug Rienzo (pensions), all from Osler, Hoskin & Harcourt LLP.

JPMorgan Chase Bank, NA, as administrative agent and collateral agent, was represented in the US by Marlane Melican, Ian Walker, Michelle Jacklin, Mork Murdock and Lina Ziurys of Davis Polk & Wardwell; and in Canada by the team from McMillan Binch LLP led by Jeffrey Rogers and Michael Hollinger (finance), with assistance from David Wentzell (tax and pensions) and Susan Nickerson (pensions).