Worthington Industries Inc. said Feb. 19 that it has extended the existing revolving credit facility until Feb. 16, 2023.

The five-year US$500 million facility was set to mature April 23, 2020.

The facility bears interest based on a credit ratings grid and currently equals the applicable London Interbank Offered Rate plus 1.25%.

The amended credit facility also included an accordion feature that will allow the company to expand the facility by an additional US$300 million on the same terms.

Following the amendment, the company currently has US$536.8 million in combined availability under the credit facility and US$50 million accounts receivable securitization program.