Canam Steel Corporation

Overview

Deal Type Debt Capital Markets
Size $289 Million
Senior Secured Credit Facilities
Client & Transactional Partners Canam Steel Corporation
American Industrial Partners
Our Role Joint Lead Arranger

Summary

On March 11, 2022, KeyBanc Capital Markets (KBCM) successfully closed the financing of $289 million Incremental Senior Secured Credit Facilities for Canam Steel Corporation (CSC), a portfolio company of American Industrial Partners (AIP). The facilities are comprised of a $40 million Incremental Revolving Credit Facility and a $249 million Senior Secured Term Loan Facility. Proceeds were used to fund a distribution to AIP, support working capital needs and pay transaction related fees and expenses. KBCM served as Joint Lead Arranger on this transaction.

Founded in 1973 and headquartered in Point of Rocks, Maryland, Canam Steel Corporation is a manufacturer of non-residential construction building products including open-web steel joists and a variety of steel deck products. In addition to its steel joist and deck products, CSC offers value-added services including personalized customer service and value-added engineering capabilities. Its products are used in a wide variety of projects including distribution warehouses, schools and high-rise buildings, stadiums, office buildings, retail buildings, and renovations.

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