FrankTagliano schreef op 29 mei 2015 12:45:
AMG Advanced Metallurgical Group N.V. Completes Refinancing of Credit Facility
05/29/2015
Amsterdam, 29 May 2015 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG," EURONEXT AMSTERDAM: "AMG") has entered into a new $320 million multicurrency term loan and revolving credit facility. The new facility, which was oversubscribed, includes an accordion feature that allows the Company, subject to certain conditions, to increase the amount of the facility by up to $100 million. HSBC Bank plc coordinated the financing and together with Lloyds Securities Inc. and UniCredit Bank AG, served as Joint Bookrunners and Mandated Lead Arrangers. Fifth Third Bank and SEB AG also served as Mandated Lead Arrangers.
AMG used the proceeds of the credit facility to repay its existing term loan and revolving credit facility, which was due to expire in April 2016. The new three-year facility extends the term of the Company's primary debt agreement to May 2018, with two extension options of one year each.
"We are pleased to have concluded a successful refinancing transaction," said Amy Ard, AMG's Chief Financial Officer. "Our new credit facility has improved terms and conditions, including the removal of the tangible net worth covenant, and will reduce borrowing costs. The refinancing provides a stable capital base and additional liquidity for strategic growth opportunities. We are grateful to the entire bank group for their support of AMG."
Dan Howlett, HSBC's Head of Large Corporate Banking in the UK said: "The UK and European loan markets remain buoyant and the oversubscription in commitments is testament to the trajectory that AMG is on as a business. HSBC is proud to have coordinated this transaction and to have supported AMG as a strategic partner in the next phase of the company's growth."