Algoma Steel Upsizes ABL Credit Facility and Extends Maturity Date to 2028

May 25, 2023

SAULT STE. MARIE, Ontario, May 25, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has successfully upsized its senior secured asset-based revolving credit facility (“ABL Credit Facility”) from US$250 million to US$300 million and extended the term of the ABL Credit Facility to May, 2028.

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