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Metals USA Announces Completion Of New Term Loan Debt Financing And Redemption Of 11 1/8% Senior Secured Notes









FORT LAUDERDALE, Fla., Dec. 14, 2012 /PRNewswire/ -- Metals USA, Inc., a wholly-owned subsidiary of Metals USA Holdings Corp. (NYSE: MUSA) ("Metals USA"), today announced that it has entered into a new seven year senior secured term loan in the amount of $225 million and has redeemed all $226.3 million of its outstanding 11 1/8% Senior Secured Notes due 2015 (the "Notes").  The new term loan bears interest at LIBOR plus 5.0%, and includes a 1.25% LIBOR floor and 1% of original issue discount.  The interest rate is 6.25% at the closing of the term loan compared to an interest rate of 11 1/8% on the Notes.  Metals USA projects the refinancing will reduce annual cash interest expense by approximately $10 million, which is expected to generate positive impacts to both free cash flow and annual pro forma earnings per share.

About Metals USA



Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets. For more information, visit Metals USA's website at www.metalsusa.com. The information contained in this release is limited and Metals USA encourages interested parties to read Metals USA's annual report on Form 10-K, its quarterly reports on Form 10-Q and its other reports, statements and materials filed with the Securities and Exchange Commission for more complete information about Metals USA. Additionally, copies of Metals USA's filings with the Securities and Exchange Commission, together with press releases and other information investors may find of interest, can be found at Metals USA's website at www.metalsusa.com under "Investor Relations."  

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