15.04.2024 21:30:06 - dpa-AFX: GNW-Adhoc: AMG Critical Materials N.V. Completes Issuance of $100 Million Incremental Term Loan
Amsterdam, 15 April 2024 --- AMG Critical Materials N.V. ("AMG", EURONEXT
AMSTERDAM: "AMG") is pleased to announce that it has entered into a new $100
million incremental term loan, structured as a fungible add-on to the existing
$350 million senior secured term loan. The $100 million incremental term loan
has the same pricing, terms and 2028 maturity as the existing $350 million term
loan. AMG will use the proceeds of the new incremental term loan for general
corporate purposes and lithium resource development.
Moody's Investors Service affirmed our Ba2 rating to the increased senior
secured term loan, affirmed our B1 corporate family rating, and changed their
outlook to stable from positive. S&P Global Ratings affirmed our BB- rating on
the increased senior secured term loan, affirmed our B+ issuer credit rating,
and revised their outlook to stable from positive.
The financing was well received in the debt markets, allowing AMG to secure
attractive pricing while enhancing liquidity, improving flexibility and funding
future growth opportunities.
HSBC Securities (USA) Inc. ("HSBC") acted as lead left arranger and bookrunner
on the transaction. The joint lead arrangers were HSBC and Citibank, N.A.
About AMG
AMG's mission is to provide critical materials and related process technologies
to advance a less carbon-intensive world. To this end, AMG is focused on the
production and development of energy storage materials such as lithium,
vanadium, and tantalum. In addition, AMG's products include highly engineered
systems to reduce CO(2) in aerospace engines, as well as critical materials
addressing CO(2) reduction in a variety of other end use markets.
AMG's Lithium segment spans the lithium value chain, reducing the CO(2)
footprint of both suppliers and customers. AMG's Vanadium segment is the world's
market leader in recycling vanadium from oil refining residues, spanning the
Company's vanadium, titanium, and chrome businesses. AMG's Technologies segment
is the established world market leader in advanced metallurgy and provides
equipment engineering to the aerospace engine sector globally. It serves as the
engineering home for the Company's fast-growing LIVA batteries, and spans AMG's
mineral processing operations in graphite, antimony, and silicon metal.
With approximately 3,600 employees, AMG operates globally with production
facilities in Germany, the United Kingdom, France, the United States, China,
Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer
service offices in Japan (www.amg-nv.com (http://www.amg-nv.com)).
For further information, please contact:
AMG Critical Materials N.V. +1 610 975 4979
Michele Fischer
mfischer@amg-nv.com (mailto:mfischer@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.
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