17.12.2009

Harsco secures new credit line

Harsco owner of SGB, Hünnebeck and Patent Scaffold has secured a three year, $570 million back-up credit facility through a multi-national consortium of banks co-led by Citibank and Royal Bank of Scotland.

The new back-up facility replaces one due to expire next year totaling $450 million.

With the company’s UK-based $30 million credit facility added in the new facility will provide $600 million in back-up liquidity to Harsco’s commercial paper programme.

Stephen J. Schnoor, chief financial officer said: “We are extremely pleased with the continued confidence of the global lending community in Harsco’s financial strength and long-term outlook. This facility, which was significantly oversubscribed, further assures the financial resources to support Harsco’s ongoing global growth initiatives.”