Steel trader Stemcor is tapping the syndicated loan market to refinance its annual revolving credit facility.

Société Générale, ABN Amro, BNP Paribas, DBS Bank, Emirates NBD, HSBC, ING Bank and Standard Chartered are mandated lead arrangers and bookrunners on the credit facility, a source close to the deal reveals to GTR.

ING is acting as the press agent on the deal.

Stemcor was last in the market in March this year with an US$850mn revolving credit facility. The bookrunners and mandated lead arrangers on the deal included ABN Amro, BNP Paribas, ING, Natixis, Société Générale and Standard Chartered.

The company also launched a US$205mn oversubscribed one-year revolving credit facility in October last year.