Reliance Enters Into Amended, Restated $1.5B Five-year Unsecured Revolving Credit Facility
Portfolio Pulse from Benzinga Newsdesk
Reliance has entered into an amended and restated $1.5 billion five-year unsecured revolving credit facility. The funds will be used for general corporate purposes, growth, and stockholder return activities.
September 16, 2024 | 10:52 am
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Reliance has secured a $1.5 billion five-year unsecured revolving credit facility, which will be used for general corporate purposes, growth, and stockholder return activities.
The $1.5 billion credit facility provides Reliance with significant financial flexibility to pursue growth opportunities and enhance stockholder returns. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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