exv4w21






Exhibit 4.21



CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO CERTAIN PORTIONS OF THIS AGREEMENT.
CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION.




Industrials & Materials

Level 3, 275 Kent Street

Sydney NSW 2000




Tel: (02) 8254 8812

Fax: (02) 8254 6968




23 December 2009




Sims Metal Management Limited

Suite 1202, Level 12

65 Berry Street

NORTH SYDNEY NSW 2060

Attention: Mr Peter Ricketts




Variation to Multicurrency Cash Advance Facility



Westpac Banking Corporation (Westpac) proposes to vary its facility currently available to
Sims Group Australia Holdings Limited ABN 37 008 634 526 and each of the entities listed in
Schedule I (each, an Undertaking Company) on the terms set out in Westpac’s agreement dated 1
November 2000, as amended (the Agreement).



The amendments needed to document the varied facility are set out below.



Please confirm each Undertaking Company’s acceptance of these amendments by signing the
accompanying copy of this letter and returning it to us before 25 December 2009.



Capitalised terms defined in the Agreement and the Standard Terms have the same meanings when used
in this letter.



This letter is a Bank Document for the purposes of the Standard Terms.




1. Amendments



The Agreement is amended by deleting the definitions of “Term”, “Margin” and “Line Fee” and
replacing them with the following:




	 	 	 

	Term:

	 	Until 1 August 2011 or as otherwise agreed (the Term).






[*] Confidential Treatment Requested




 









 





	 	 	 	 	 

	Margin	 	The Margin is payable on outstandings drawn under the facility and will
vary as set out in the following grid.
	 	 	(The calculation and definition of the Total Finance Debt/Gross EBITDA
multiple is set out in the Standard Terms).
	 
	 	 	 	 
	 

	 	Ratio of Total Finance Debt
	 	 
	 

	 	/Gross EBITDA =	 	Margin
	 

	 	[*]
	 	[*]
	 
	 	 	 	 
	LineFee	 	Calculated as a percentage per annum of the daily amount of the undrawn
Commitment at the rate of [*] of the Margin. It is payable quarterly in
arrears on the last Business Day of each calendar quarter, and on the last
day of the Term (or at any other intervals designated by Westpac from
time to time). If the Commitment is cancelled or reduced in the quarter the
relevant amount of fee is not refundable.






2. General




Conditions Precedent



Before the variations referred to above become effective, the Undertaking Companies and Guarantors
must:





	•	 	sign by two authorised officers of the Undertaking Companies and the Guarantors and return a copy of this letter; and
	 
	•	 	[*]





References to Agreement



Any reference in the Agreement to the Agreement includes a reference to the Agreement as varied by
this letter or as further varied from time to time.




Confirmation of Agreement



Other than set out in this letter, the Agreement remains unchanged.




Confirmation by Guarantors



Each Guarantor confirms that:





	•	 	It agrees to the amendment to the Agreement referred to in this letter;





[*] Confidential Treatment Requested




 









 






	•	 	This amendment does not in any way release, reduce or limit its liability and obligations to
Westpac under the Group Guarantee dated 15 November 2000 between (amongst others) it and Westpac
(the “Group Guarantee”);
	 
	•	 	The Group Guarantee remains a valid obligation binding on it to pay amongst other things and
according to its terms, all moneys due and payable from time to time to Westpac under the Agreement
and Standard Terms as varied from time to time;
	 
	•	 	Westpac is under no obligation to advise it of any further variation to the Agreement as a result
of having requested this confirmation; and
	 
	•	 	This confirmation is binding on it irrespective of whether all Guarantors sign or whether the
statements are true in respect of each other Guarantor.





Governing law and Jurisdiction



This letter is governed by New South Wales law. Each Undertaking Company accepts the nonexclusive
jurisdiction of the courts having jurisdiction there.




Schedule 1 — Undertaking Companies




	 	 	 

	Name of company

	 	ABN/ARB/ place of incorporation
	Sims Group Australia Holdings Limited

	 	37 008 634 526
	Sims Metal Management Limited

	 	69 114 838 630
	Sims Group UK Limited

	 	UK 3242331
	Sims Group UK Holdings Limited

	 	UK 2904307
	Mirec BV

	 	Holland 17073024
	Sims Recycling Solutions AB

	 	Sweden
	Sims Group USA Corporation

	 	Delaware
	Sims Group Global Trade Corporation

	 	Delaware
	North Carolina Resource Conservation LLC

	 	North Carolina
	Sims Group USA Holdings Corporation

	 	Delaware
	Schiabo Larovo Corporation

	 	Delaware
	Simsmetal East LLC

	 	Delaware
	Simsmetal West LLC

	 	Delaware
	Metal Management, Inc.

	 	Delaware
	Metal Management Alabama, Inc.

	 	Delaware
	Metal Management Arizona, L.L.C.

	 	Arizona
	Metal Management Connecticut, Inc.

	 	Delaware
	Metal Management Memphis, L.L.C.

	 	Tennessee
	Metal Management Midwest, Inc.

	 	Illinois
	Metal Management Mississippi, Inc.

	 	Delaware
	Metal Management Northeast, Inc.

	 	New Jersey
	Metal Management Ohio, Inc.

	 	Ohio
	Metal Management West, Inc.

	 	Colorado
	Proler Southwest LP

	 	Texas
	Metal Dynamics Detroit LLC

	 	Delaware






[*] Confidential Treatment Requested




 









 





Schedule 2 — Guarantors




	 	 	 

	Name of Company

	 	ACN/ARBN
	Sims Group Australia Holdings Limited

	 	37 008 634 526
	Sims Metal Management Limited

	 	69 114 838 630
	Simsmetal Holdings Pty Limited

	 	97 000 021 563
	Simsmetal Services Pty Limited

	 	76 000 166 987
	Sims Manufacturing Pty Limited

	 	13 004 332 870
	Sims Industrial Pty Limited

	 	95 000 090 479
	Sims Energy Pty Limited

	 	42 009 667 752
	Sims Group UK Limited

	 	UK 3242331
	Sims Group UK Holdings Limited

	 	UK 2904307
	Mirec BV

	 	Holland 17073024
	Sims Recycling Solutions AB

	 	Sweden
	Simsmetal Industries Limited

	 	New Zealand
	Sims M+R GmbH

	 	Germany
	Sims Group German Holdings GmbH

	 	Germany
	Sims Asia Holdings Limited

	 	Hong Kong
	Sims Group Recycling Solutions Canada Ltd

	 	Canada
	Sims Group Canada Holdings Limited

	 	Canada
	Sims Group USA Corporation

	 	Delaware
	Sims Group Global Trade Corporation

	 	Delaware
	North Carolina Resource Conservation, LLC

	 	North Carolina
	Sims Group USA Holdings Corporation

	 	Delaware
	SHN Co., LLC

	 	Delaware
	HNE Recycling LLC

	 	Delaware
	HNW Recycling LLC

	 	Delaware
	Schiabo Larovo Corporation

	 	Delaware
	Simsmetal East LLC

	 	Delaware
	Simsmetal West LLC

	 	Delaware
	Sims Recycling Solutions, Inc.

	 	Illinois
	Sims Group Recycling Solutions USA Corporation

	 	Delaware
	United Refining & Smelting Co.

	 	Illinois
	Metal Management, Inc.

	 	Delaware
	CIM Trucking, Inc.

	 	Illinois
	Metal Management Alabama, Inc.

	 	Delaware
	Metal Management Arizona, L.L.C.

	 	Arizona
	Metal Management Connecticut, Inc.

	 	Delaware
	Metal Management Indiana, Inc.

	 	Illinois
	Metal Management Memphis, L.L.C.

	 	Tennessee
	Metal Management Midwest, Inc.

	 	Illinois
	Metal Management Mississippi, Inc.

	 	Delaware
	Metal Management New Haven, Inc.

	 	Delaware
	Metal Management Northeast, Inc.

	 	New Jersey
	Metal Management Ohio, Inc.

	 	Ohio
	Metal Management Pittsburgh, Inc.

	 	Delaware
	Metal Management Proler Southwest, Inc.

	 	Delaware






[*] Confidential Treatment Requested




 









 





	 	 	 

	Name of Company

	 	ACN/ARBN
	Metal Management S&A Holdings, Inc.

	 	Delaware
	Metal Management West Coast Holdings, Inc.

	 	Delaware
	Metal Management West, Inc.

	 	Colorado
	MM Metal Dynamics Holdings, Inc.

	 	Delaware
	Naporano Iron & Metal, Inc.

	 	Delaware
	New York Recycling Ventures, Inc.

	 	Delaware
	Proler Southwest GP, Inc.

	 	Delaware
	Proler Southwest LP

	 	Texas
	Reserve Iron & Metal Limited Partnership

	 	Delaware
	Metal Dynamics LLC

	 	Delaware
	Metal Dynamics Detroit LLC

	 	Delaware
	Metal Dynamics Indianapolis LLC

	 	Delaware
	Sims Municipal Recycling of New York LLC
	 	 





Signed for Westpac Banking Corporation by its authorised officer




[*] Confidential Treatment Requested




 









 





Accepted and agreed for and on behalf of the Undertaking Companies

Sims Group Australia Holdings Limited ABN 37 008 634 526

Sims Metal Management Limited ACN 114 838 630

Sims Group UK Limited

Sims Group UK Holdings Limited

Mirec BV

Sims Recycling Solutions AB

Sims Group USA Corporation

Sims Group Global Trade Corporation

North Carolina Resource Conservation LLC

Sims Group USA Holdings Corporation

Schiabo Larovo Corporation

Simsmetal East LLC

Simsmetal West LLC

Metal. Management, Inc.

Metal Management Alabama, Inc.

Metal Management Arizona, L.L.C.

Metal Management Connecticut, Inc.

Metal Management Memphis, L.L.C.

Metal Management Midwest, Inc.

Metal Management Mississippi, Inc.

Metal Management Northeast, Inc.

Metal Management Ohio, Inc.

Metal Management West, Inc.

Proler Southwest LP

Metal Dynamics Detroit LLC



By its authorised officers




	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 
	authorised officer	 	 	 	authorised officer	 	 
	 
	 	 	 	 	 	 	 	 
	Name Peter Ricketts	 	 	 	Name	 	 
	 
	 	 	 	 	 	 	 	 
	Title	 	Group Senior Vice President	 	Title	 	 
	 	 	Treasury Financial Strategy and Planning	 	 	 	 






[*] Confidential Treatment Requested




 









 





Accepted and agreed for and on behalf of the Guarantors

Sims Group Australia Holdings Limited

Sims Metal Management Limited ACN 114 838 630

Simsmetal Holdings Pty Limited

Simsmetal Services Pty Limited

Sims Manufacturing Pty LimitedSims Industrial Pty Limited

Sims Energy Pty Limited

Sims Group UK Limited

Sims Group UK Holdings Limited

Mirec BY

Sims Recycling Solutions AB

Simsmetal Industries Limited

Sims M+R GmbH

Sims Group German Holdings GmbH

Sims Asia Holdings Limited

Sims Group Recycling Solutions Canada Ltd

Sims Group Canada Holdings Limited

Sims Group USA Corporation

Sims Group Global Trade Corporation

North Carolina Resource Conservation, LLC

Sims Group USA Holdings Corporation

SHIN Co., LLC

HNE Recycling LLC

HNW Recycling LLC

Schiabo Larovo Corporation

Simsmetal East LLC

Simsmetal West LLC

Sims Recycling Solutions, Inc.

Sims Group Recycling Solutions USA Corporation

United Refining & Smelting Co.

Metal Management, Inc.

CIM Trucking, Inc.

Metal Management Alabama, Inc.

Metal Management Arizona, L.L.C.

Metal Management Connecticut, Inc.

Metal Management Indiana, Inc.

Metal Management Memphis, L.L.C.

Metal Management Midwest, Inc.

Metal Management Mississippi, Inc.

Metal Management New Haven, Inc.

Metal Management Northeast, Inc.

Metal Management Ohio, Inc.

Metal Management Pittsburgh, Inc.

Metal Management Proler Southwest, Inc.

Metal Management S&A Holdings, Inc.

Metal Management West Coast Holdings, Inc.




[*] Confidential Treatment Requested




 









 





Metal Management West, Inc.

MM Metal Dynamics Holdings, Inc.

Naporano Iron & Metal, Inc.

New York Recycling Ventures, Inc.

Proler Southwest GP, Inc.

Proler Southwest LP

Reserve Iron & Metal Limited Partnership Metal Dynamics LLC

Metal Dynamics Detroit LLC

Metal Dynamics Indianapolis LLC

Sims Municipal Recycling of New York LLC



By its authorised officers




	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 
	authorised officer	 	 	 	authorised officer	 	 
	 
	 	 	 	 	 	 	 	 
	Name Peter Ricketts	 	 	 	Name	 	 
	 
	 	 	 	 	 	 	 	 
	Title	 	Group Senior Vice President	 	Title	 	 
	 	 	Treasury Financial Strategy and Planning	 	 	 	 






[*] Confidential Treatment Requested