Tempel Canada enters CAD $57.5M loan with BDC to build new manufacturing facility

Worthington Steel, Inc.

Subsidiary Tempel Canada entered loan of up to CAD $57.5M from BDC for a new Burlington, Ontario facility.
Construction draw loan; draw period ends March 21, 2026, unless extended; interest-only until July 2026.
Interest at BDC Floating Base Rate minus 1.75% during construction; borrower option after construction.
Matures June 1, 2051; Worthington guarantees 20% of loan on demand, releasable when balance ≤ CAD $40M.
Secured by mortgage, rent assignment, and liens; Tempel Canada must meet debt/equity ≤1.0 and FCCR ≥1.15.

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