Reliance, Inc. Enters Material Definitive Agreement
Ticker: RS · Form: 8-K · Filed: Aug 15, 2025 · CIK: 861884
| Field | Detail |
|---|---|
| Company | Reliance, Inc. (RS) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $400 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-agreement
TL;DR
Reliance, Inc. just signed a big deal, likely involving debt. Keep an eye on their financials.
AI Summary
On August 14, 2025, Reliance, Inc. entered into a material definitive agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates Reliance, Inc. has entered into a significant financial agreement, which could impact its debt structure and future financial flexibility.
Risk Assessment
Risk Level: medium — Entering into new financial obligations can introduce financial risk, depending on the terms and the company's overall financial health.
Key Players & Entities
- Reliance, Inc. (company) — Registrant
- August 14, 2025 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did Reliance, Inc. enter into?
Reliance, Inc. entered into a credit agreement.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is August 14, 2025.
What is the Commission File Number for Reliance, Inc.?
The Commission File Number for Reliance, Inc. is 001-13122.
What is the I.R.S. Employer Identification Number for Reliance, Inc.?
The I.R.S. Employer Identification Number for Reliance, Inc. is 95-1142616.
What is the primary business of Reliance, Inc. according to the filing?
Reliance, Inc. is classified under SIC code 5051 as Wholesale-Metals Service Centers & Offices.
Filing Stats: 898 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2025-08-15 16:01:38
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value RS New York Stock Exchang
- $400 million — The Term Loan Agreement provides for a $400 million term loan that was fully drawn at closi
Filing Documents
- tm2523573d1_8k.htm (8-K) — 33KB
- tm2523573d1_ex10-1.htm (EX-10.1) — 800KB
- tm2523573d1_ex10-1spimg01.jpg (GRAPHIC) — 14KB
- 0001104659-25-079220.txt ( ) — 1178KB
- rs-20250814.xsd (EX-101.SCH) — 3KB
- rs-20250814_lab.xml (EX-101.LAB) — 33KB
- rs-20250814_pre.xml (EX-101.PRE) — 22KB
- tm2523573d1_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement. On August 14, 2025, Reliance, Inc. (the "Company") entered into a Term Loan Agreement (the "Term Loan Agreement") among the Company, as borrower, Bank of America N.A., as the administrative agent, Wells Fargo Bank, National Association, PNC Bank National Association, and U.S. Bank National Association as co-syndication agents, JPMorgan Chase Bank, N.A. as documentation agent, and the other lenders party thereto. BofA Securities, Inc., Wells Fargo Securities, LLC, PNC Capital Markets LLC and U.S. Bank National Association are joint lead arrangers and joint bookrunners. The Term Loan Agreement provides for a $400 million term loan that was fully drawn at closing, and has a maturity date of August 14, 2028. Funds provided under the Term Loan Agreement were used to repay the Company's $400 million of senior unsecured notes maturing August 15, 2025. The Term Loan Agreement is not guaranteed by any of the Company's subsidiaries and is unsecured. At the Company's option, borrowings under the Term Loan Agreement will bear interest at either the Secured Overnight Financing Rate ("SOFR") or a base rate, in each case plus the applicable interest rate margin. Borrowings will initially bear interest at SOFR plus 0.75% per annum through and including the date of delivery of a compliance certificate for the fiscal quarter ending September 30, 2025, and thereafter the interest rate will fluctuate between SOFR plus 0.75% per annum and SOFR plus 1.25% per annum (or at the base rate plus up to 0.250% per annum), based upon the Company's Total Net Leverage Ratio (as defined in the Term Loan Agreement) at such time. The Term Loan Agreement contains usual and customary representations and warranties, and usual and customary affirmative and negative covenants (subject to certain exceptions and baskets). A maximum Total Net Leverage Ratio is the only financial maintenance covenant in the Term Loan Agreement. The Term Loan Agree
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under "Item 1.01. Entry into a Material Definitive Agreement" is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Term Loan Agreement, dated August 14, 2025, among Reliance, Inc., as borrower, Bank of America N.A., as the administrative agent, Wells Fargo Bank, National Association, PNC Bank National Association, and U.S. Bank National Association as co-syndication agents, JPMorgan Chase Bank, N.A. as documentation agent, and the other lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * * * 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RELIANCE, INC. Dated: August 15, 2025 By: /s/ William A. Smith II William A. Smith II Senior Vice President, General Counsel and Corporate Secretary 4