Advanced Metallurgical Group refinances multi-currency revolver

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Netherlands-based specialty metals and minerals producer Advanced Metallurgical Group (AMG) has increased the size of its multi-currency revolving credit to $400 million. The five-year refinancing was oversubscribed and signed on 20 July.

Proceeds will fund capital expenditure and provide liquidity for growth opportunities - notably AMG's $50 million lithium concentrate (spodumene) processing project at the Mibra mine in Brazil.

The deal, which matures in July 2021, boosts AMG's borrowing by $80 million and maintains the $100 million accordion facility included in the previous signing. The facility comprises a $243 million revolver and $100 million term loan for dollar-related expenditure. It also has a €50 million ($55.5 million) facility for its European operations.

Bookrunners are Fifth Third Securities, HSBC, Lloyds and Unicredit. Citi and SEB are mandated lead arrangers, while Bank Hapoalim, Citizens Financial Group and KBC joined as arrangers.

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