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 CO2 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@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.
