TMS Int'l (TMS) Units Enter New $350M Secured Facility

TMS International Corp. (NYSE: TMS) today announced that certain of its subsidiaries, including Tube City IMS Corporation, a leading provider of outsourced industrial services to steel mills globally, have entered into a new five-year $350 million secured asset-based revolving credit facility which replaces an existing $165 million asset-based revolving credit facility set to mature in January 2013. The new ABL Facility is available immediately for loans and the issuance of letters of credit, and allows for borrowings in the United States, Canada, France and the United Kingdom. Subject to certain conditions the company may elect to increase the size of the facility from time to time. The ABL Facility has a maturity date of December 2016 and was undrawn at closing.

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