AMG Advanced finalizes $350 million term B at Libor plus 350 bps

By Sara Rosenberg

New York, Nov. 16 – AMG Advanced Metallurgical Group NV set pricing on its $350 million seven-year term loan B at Libor plus 350 basis points, the high end of the Libor plus 325 bps to 350 bps talk, according to a market source.

In addition, the original issue discount on the term loan firmed at 99, the wide end of the 99 to 99.5 talk, the source said.

The term loan B still has a 0.5% Libor floor and 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.

Proceeds will be used to refinance existing credit facilities.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.