Reliance Secures $400M Loan to Refinance Debt, Extend Maturity to 2028

Reliance, Inc. secured a $400 million unsecured term loan facility maturing in August 2028 to refinance its $400 million senior unsecured notes due in August 2025, enhancing its capital structure and extending debt maturities. The company maintains a conservative net debt-to-EBITDA ratio of 0.9x as of June 30, 2025, reflecting its balanced approach to leverage while preserving financial flexibility. This refinancing supports Reliance's strategic goals of organic growth, strategic acquisitions, and consistent shareholder returns through dividends and share repurchases. CEO Karla Lewis emphasized that the new facility strengthens liquidity and enables continued investment in high-return opportunities. Despite expected seasonal demand fluctuations and a slight anticipated decrease in tons sold from Q2 to Q3 2025, Reliance forecasts modest growth compared to the previous year and adjusted earnings per share between $3.60 and $3.80 for Q3 2025. The refinancing effort has garnered strong support from banking partners, underscoring confidence in the company's operational strategy and market position.