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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
MARCH 10, 1995
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BAYOU STEEL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 33-22603 72-1125783
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(State or other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
River Road, P.O. Box 5000, LaPlace, Louisiana 70069
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(Address of principal executive offices)
(Zip Code)
(504) 652-4900
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report.)
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Item 5. OTHER EVENTS
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Bayou Steel Corporation (the "Company") has entered into a Commitment Letter
with Chemical Bank pursuant to which the Company's revolving credit facility
would be increased from $30 million to $45 million and the Company would incur
an additional $10 million of term debt. The Company intends to use a portion of
the proceeds of these facilities to finance its proposed acquisition of the
assets of Tennessee Valley Steel Corporation for $30.5 million. The Company
expects that initially following closing of the acquisition, a substantial
portion of the borrowing capacity under the facilities will remain unutilized.
The Company plans to obtain additional financing for the acquisition through the
equity markets.
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SIGNATURE
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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.
BAYOU STEEL CORPORATION
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(Registrant)
By /s/ Richard J. Gonzalez
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Richard J. Gonzalez,
Vice President, Treasurer, Chief
Financial Officer, and Secretary
Date: March 10, 1995
