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AMG Advanced to launch $550 million credit facilities on Tuesday
By Sara Rosenberg
New York, Oct. 29 – AMG Advanced Metallurgical Group NV will hold a lender call at 10 a.m. ET on Tuesday to launch $550 million of credit facilities, according to a market source.
HSBC Securities (USA) Inc. is the left lead on the deal and the agent.
The facilities consist of a $200 million five-year revolver and a $350 million seven-year term loan B, the source said.
The term loan B has 101 soft call protection for six months.
Expected credit facilities ratings are Ba3/BB-.
Commitments are due at 5 p.m. ET on Nov. 15, the source added.
Proceeds will be used to refinance existing credit facilities. Cashless roll is available on the term loan B.
AMG Advanced, which has corporate offices in Amsterdam and Wayne, Pa., is a critical materials company that sources, processes, and supplies specialty metals and mineral products, and provides related vacuum furnace systems and heat treatment services.
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