Steel Dynamics, Inc. has replaced its existing $230 million senior secured revolving credit facility with a new 5-year $350 million senior secured revolving credit facility.

With completion of the refinancing, the company increased its liquidity from approximately $200 million to $335 million, with the opportunity to increase the new facility by an additional $100 million during the next five years. The new facility is secured by substantially all of the company's accounts receivable and inventories.

Proceeds from the revolver will be available to fund working capital and other general corporate purposes.

Steel Dynamics is a profitable, young and growing Midwest producer of carbon steel products. The company produces a broad array of high-quality flat-rolled, structural and bar steels at three Indiana steel minimills and steel-processing operations.