Quanex Announces Agreement on $270 Million Revolving Credit Facility for Subsidiary

Houston-based Quanex Corp., the parent company of Truseal Technologies, Mikron Industries and Homeshield, has announced an agreement for a new $270 million senior unsecured revolving credit facility for Quanex Building Products Corp., its wholly-owned subsidiary. The five-year agreement was negotiated with a syndicate of nine commercial banks and has an accordion feature to increase aggregate commitments over the five-year term to $350 million. Closing on the facility is contingent upon the execution of the spin-off of Quanex Building Products Corp. and other customary conditions.

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