TimkenSteel obtains restated $300 million revolving facility due 2019

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – TimkenSteel Corp. completed an amendment and restatement of its $300 million revolving credit facility, according to a Monday press release.

The revolver matures June 30, 2019.

The administrative agent is JPMorgan Chase Bank, and PNC Bank is the syndication agent.

The amended facility has an asset-based financing structure and covenants that are “better aligned with current business conditions,” according to the release.

Timken is a Canton, Ohio-based mechanical components engineering, manufacturer and marketing company.

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