Steel Dynamics, Inc. has completed its previously announced refinancing and has entered into a new 4-year $230 million senior secured revolving credit facility.

A portion of the proceeds from the Revolver and cash on hand were used to prepay certain existing senior secured debt, including the company's term loan B facility of $108 million.

At June 30, 2004, with completion of the refinancing, Steel Dynamics increased its credit facility liquidity from approximately $75 million to $130 million. Proceeds from the Revolver will be available for working capital and other general corporate purposes.