AMG Advanced Metallurgical Group N.V. Completes Enlargement and Extension of Credit Facility
(Thomson Reuters ONE) -
Amsterdam, 20 July 2016 (Regulated Information) --- AMG Advanced Metallurgical
Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased
to announce the successful enlargement and extension of its syndicated credit
facility. The new facility, which was oversubscribed, has been increased from
$320 million to $400 million and the maturity has been extended from May 2018 to
July 2021.
"Our amended credit facility has improved terms and conditions, additional
capacity, and a new five-year maturity," said Jackson Dunckel, AMG's Chief
Financial Officer. "The amended facility provides AMG with a stable capital base
and additional liquidity for strategic growth opportunities. We are grateful to
the entire bank group for their continued support of AMG."
The amended facility maintains an accordion feature that allows the Company,
subject to certain conditions, to increase the commitment amount by up to $100
million. HSBC Bank plc coordinated the financing and, together with Lloyds
Securities Inc., UniCredit Bank AG, and Fifth Third Bank, served as Joint
Bookrunners and Mandated Lead Arrangers. SEB AG and Citibank, N.A. also served
as Mandated Lead Arrangers.
The amendment and extension provides additional flexibility and a long-term
liquidity resource for the AMG group. The expansion of the facility size will
support AMG in funding strategic growth initiatives such as AMG's lithium
project.
About AMG
AMG is a global critical materials company at the forefront of CO(2) reduction
trends. AMG produces highly engineered specialty metals and mineral products and
provides related vacuum furnace systems and services to the transportation,
infrastructure, energy, and specialty metals & chemicals end markets.
AMG produces aluminum master alloys and powders, titanium alloys and coatings,
ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and
silicon metal. AMG Engineering designs and produces vacuum furnace equipment
and systems used to produce and upgrade specialty metals and alloys for the
transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production
facilities in Germany, the United Kingdom, France, Czech Republic, United
States, China, Mexico, Brazil and Sri Lanka, and has sales and customer service
offices in Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels(at)amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are
"forward looking". Forward looking statements include statements concerning
AMG's plans, expectations, projections, objectives, targets, goals, strategies,
future events, future revenues or performance, capital expenditures, financing
needs, plans and intentions relating to acquisitions, AMG's competitive
strengths and weaknesses, plans or goals relating to forecasted production,
reserves, financial position and future operations and development, AMG's
business strategy and the trends AMG anticipates in the industries and the
political and legal environment in which it operates and other information that
is not historical information. When used in this press release, the words
"expects," "believes," "anticipates," "plans," "may," "will," "should," and
similar expressions, and the negatives thereof, are intended to identify forward
looking statements. By their very nature, forward looking statements involve
inherent risks and uncertainties, both general and specific, and risks exist
that the predictions, forecasts, projections and other forward looking
statements will not be achieved. These forward looking statements speak only as
of the date of this press release. AMG expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward looking
statement contained herein to reflect any change in AMG's expectations with
regard thereto or any change in events, conditions, or circumstances on which
any forward looking statement is based.
July 20 2016 B:
http://hugin.info/138060/R/2029410/754579.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AMG Advanced Metallurgical Group N.V. via GlobeNewswire
[HUG#2029410]
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Datum: 20.07.2016 - 07:01 Uhr
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