Edgen Murray subsidiary amends loan to lift revolver to $125 million

By Jennifer Chiou

New York, Aug. 8 - Edgen Group Inc. consolidated subsidiary Bourland & Leverich Supply Co. LLC entered into on Aug. 7 an amendment to its revolving credit agreement with Regions Bank, RBS Business Capital and Regions Business Capital, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the total revolving commitment to $125 million. The amount may be increased by an additional $50 million.

The filing stated that the changes also reduced the interest rate 125 basis points while cutting the unused fee by 12.5 bps and 25 bps, depending on the quarterly average undrawn availability under the revolver.

Edgen Group is a Baton Rouge, La., steel company.

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