latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/amg-schedules-nov-2-lender-call-to-launch-350m-term-loan-for-refinancing-67355096 content esgSubNav
In This List

AMG schedules Nov. 2 lender call to launch $350M term loan for refinancing


Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape


Essential IR Insights Newsletter Fall - 2023


Battery metals - unbated long term need for supply security despite short-term headwinds

AMG schedules Nov. 2 lender call to launch $350M term loan for refinancing

Lead arranger HSBC scheduled a lender call for 10 a.m. ET on Tuesday, Nov. 2, to launch a $350 million term loan B for AMG Advanced Metallurgical Group, according to sources. Commitments will be due by 5 p.m. ET on Monday, Nov. 15.

Price talk is not yet announced, but note that the TLB will have a seven-year maturity and will come with six months of 101 soft call protection. AMG Advanced Metallurgical Group NV and Metallurg Inc. are the borrowers.

Proceeds will be used to refinance the company's existing credit facilities. AMG's extant covenant-lite TLB due 2025 is priced at L+300, with a 0% Libor floor. In addition to the term loan, the issuer will have a $200 million, five-year revolver.

Investors are being guided toward facility ratings of BB-/Ba3, with a 2 recovery rating from S&P Global Ratings, and corporate ratings of B+/B2, with stable and positive outlooks.

AMG Advanced Metallurgical Group NV produces engineered specialty metals and mineral products.