AMG Advanced Metallurgical Group N.V. Completes Enlargement and Extension of Credit Facility
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.