| Steel Dynamics Announces Term Loan A Facility |
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| FORT WAYNE, INDIANA, September 11, 2007 — Steel Dynamics, Inc.
(NASDAQ: STLD) announced today that it has amended its existing $750
million senior secured credit facility to allow for the addition of a
$550 million term loan A facility (Term Loan A). This new facility was
also consummated today. The net proceeds from the Term Loan A will be
used to repay a portion of the borrowings outstanding under the $750
million senior secured revolving credit facility, which were used to
fund the company’s recent $370 million purchase of The Techs, to fund
additional share repurchases pursuant to the company’s share repurchase
program, to fund various capital expenditures and for general working
capital purposes .
The combined facilities are due June 2012 and are secured by substantially all the company’s wholly-owned subsidiaries’ receivables and inventories and by pledges of all shares of the company’s wholly-owned subsidiaries’ capital stock. The senior secured credit facility contains financial covenants and other covenants that limit or restrict the company’s ability to make capital expenditures; incur indebtedness; permit liens on property; enter into transactions with affiliates; make restricted payments or investments; enter into mergers, acquisitions or consolidations; conduct asset sales; pay dividends or distributions and enter into other specified transactions and activities. The company’s ability to borrow funds under the combined facilities is dependent upon its continued compliance with the financial covenants and other covenants contained in the senior secured credit agreement, as amended and restated. Contact: |
| 9/11/2007 |