AMG Advanced launches $350 million term B at Libor plus 325-350 bps

By Sara Rosenberg

New York, Nov. 2 – AMG Advanced Metallurgical Group NV launched on Tuesday its $350 million seven-year term loan B with price talk of Libor plus 325 basis points to 350 bps with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan B has 101 soft call protection for six months.

The company’s $550 million of credit facilities (Ba3/BB-) also include a $200 million five-year revolver.

HSBC Securities (USA) Inc. is the left lead on the deal and the agent.

Commitments are due at 5 p.m. ET on Nov. 15.

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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