HARRISBURG, Pa., Dec. 17, 2009 (GLOBE NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE:HSC) announced today that it has successfully secured a 3-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.
"We are extremely pleased with the continued confidence of the global lending community in Harsco's financial strength and long-term outlook," said Stephen J. Schnoor, Senior VP and Chief Financial Officer. "This facility, which was significantly oversubscribed, further assures the financial resources to support Harsco's ongoing global growth initiatives."
Together with the Company's UK-based $30 million credit facility, the new facility will provide $600 million in back-up liquidity to Harsco's commercial paper program.
Harsco Corporation is a diversified industrial services company serving global industries that are fundamental to worldwide economic growth, including infrastructure, metals, railways and energy. Harsco is recognized as one of the Fortune 1000 leading companies in America and has been named five times to the Platinum 400 list of the best big companies by Forbes magazine. Harsco's common stock is a component of the S&P Mid Cap 400 Index and the Russell 1000 Index. Additional information can be found at www.harsco.com.
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