Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

February 10, 2016 12:57 PM ET

Metals and Mining

Company Overview of PSL North America LLC

Company Overview

PSL North America LLC manufactures and coats steel pipes. The company offers its products for natural gas pipeline companies and others. It distributes its products via trucking, rail, and waterways. The company was founded in 2006 and is based in Bay St. Louis, Mississippi. As of August 29, 2014, PSL North America LLC operates as a subsidiary of Jindal Tubular USA LLC.

13092 Sea Plane Road

Bay St. Louis, MS 39520

United States

Founded in 2006





Key Executives for PSL North America LLC

Chief Operations Officer
Managing Director of PSL Limited
Business Development Director
Compensation as of Fiscal Year 2015.

PSL North America LLC Key Developments

Motion for Asset Sale Approved for PSL North America LLC

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of PSL North America LLC on August 15, 2014. The debtor has been authorized to sell substantially all its assets to Jindal Tubular USA LLC, the stalking horse bidder for a purchase price of $100 million in cash. The debtor did not receive any other competing bids for the purchase of its assets and therefore Jindal Tubular USA LLC emerged as the winning bidder.

Final DIP Financing Approved for PSL North America LLC

The US Bankruptcy Court gave an order to PSL North America LLC to obtain DIP financing on a final basis on July 28, 2014. As per the order, the debtor has been authorized to obtain loan of $11.5 million from ICICI Bank Limited, New York Branch. The DIP loan would carry an interest rate of 3-months LIBOR plus 5.5% p.a., along with an additional 1% p.a. interest in the event of default and 2% for any default in payment of any obligation under the post petition facility. The DIP facility would mature either on September 30, 2014 or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. The debtor cannot make any draws from the post petition facility after August 31, 2014. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.15 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. Final DIP hearing will be held on July 14, 2014. The Court has granted interim approval for the post-petition financing on June 17, 2014.

Bidding Procedure Approved for PSL North America LLC

The US Bankruptcy Court approved the bidding procedures relating to the sale of substantially all the assets of PSL North America LLC on July 14, 2014. Court has also approved the stalking-horse agreement with Jindal Tubular USA LLC for the sale of substantially all the assets for $100 million, as per the agreement dated June 16, 2014. Break-up fee of $3 million and expense reimbursement of $0.5 million has been approved by the Court. As per the approved bidding procedure order, deadline for submitting bids for the purchase assets is August 11, 2014. If more than one qualified bids are timely received by the debtor, auction will take place on August 13, 2014. In the auction, minimum initial overbid must be of at least $0.50 million in excess of the stalking-horse purchase price plus break-up fee and expense reimbursement. Subsequent bids must be in cash increments of at least $0.25 million greater than the initial overbid. Sale hearing will be held on August 15, 2014.

Similar Private Companies By Industry

Company Name Region
Alpha Processing, Inc. United States
Cryocon Inc. United States
American Turned Products, Inc. United States
Sipi Metals Corporation United States
Lofland Company Dallas United States

Recent Private Companies Transactions

No transactions available in the past 12 months.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact PSL North America LLC, please visit --. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at