AMG Advanced Metallurgical Group N.V. Announces new Term Loan and Revolving Credit Facility
Amsterdam, 4 September 2007 – AMG Advanced Metallurgical Group N.V. (EURONEXT AMSTERDAM: AMG) announced today that it and its subsidiaries have completed a USD 275 million term loan and multicurrency revolving credit facility agreement with Credit Suisse as the bookrunner, lead arranger and issuing bank. The credit facility was successfully syndicated to a group of leading international banks.
The Company recently announced that it has repaid approximately USD 200 million of high yield debt. AMG will repay substantially all of its existing credit facilities with other financial institutions using the proceeds of the new USD 100 million term loan. Other than for the issuance of certain commercial letters of credit, the USD 175 million revolving facility was undrawn at closing.
The new credit facility has lowered AMG’s interest costs and provides significant additional liquidity to accelerate its expansion plans and strategic growth opportunities.
AMG, incorporated in the Netherlands, is a leading global specialty materials company offering highly engineered metallurgical products and advanced vacuum furnace systems to a broad range of end markets. AMG utilises its proprietary know-how to supply sophisticated metals and materials through its production and sales activities in 12 countries on five continents. In addition, AMG designs, engineers and produces advanced vacuum furnace systems for growing industries globally. AMG’s metallurgical expertise has enabled it to capture leading market positions for many of its products and systems. Most of AMG’s products and systems are critical to the production of key components for the aerospace, energy (including solar and nuclear), electronics, optics, chemicals, construction and transportation industries. AMG is organised into two business units: Advanced Materials and Engineering Systems.
The Advanced Materials unit develops and produces niche specialty metals and complex metals products, many of which are used in demanding, safety-critical, high-stress environments. AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, ferrotitanium, aluminium master alloys and additives, silicon metal (including solar grade), chromium metal and magnesium alloys, used by steel, aluminium, silicones and superalloy producers for aerospace, energy, electronics, optics, chemicals, construction and transportation applications.
The Engineering Systems unit designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities. AMG sells vacuum furnace systems to customers in the aerospace, energy (including solar and nuclear), transportation, electronics, superalloys and specialty steel industries.
AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, Canada, Mexico, Brazil and Australia and also has sales and customer service offices in Belgium, Russia, China and Japan (website: www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 293 2508
Chief Financial OfficerDownload PDF