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AMG Advanced Metallurgical Group N.V. Completes Issuance of $550 Million of Credit Facilities

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Amsterdam, 30November 2021--- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that it has entered into a new $350 million 7-year senior secured term loan B facility ("term loan") and a $200 million 5-year senior secured revolving credit facility ("revolver"). The total facility amount of $550 million replaces AMG’s existing credit facility and extends our term loan maturity from 2025 to 2028 and revolver maturity from 2023 to 2025.   AMG will use the proceeds of the new term loan to refinance its existing credit facility.

Further strengthening AMG’s commitment to Environmental, Social and Governance ("ESG"), we have embedded annual CO2 intensity reduction targets into the Revolving Credit Facility, making it a Sustainability Linked Loan.

Moody's Investors Service ("Moody's") assigned a Ba3 rating to the new senior secured credit facility, affirmed our B2 corporate family rating and changed their outlook to positive from stable.   S&P Global Ratings assigned a BB- to the new facility, affirmed our B+ issuer credit rating and revised their outlook to stable from negative.

The refinancing was well received in the debt markets, allowing AMG to secure attractive pricing while enhancing liquidity, improving flexibility, and extending its debt maturity profile.

HSBC Securities (USA) Inc. ("HSBC") acted as sole bookrunner on the credit facilities. Joint lead arrangers were HSBC, Citibank, N.A. ("Citi"), BofA Securities Inc. ("BofA") and JPMorgan Chase Bank, N.A ("JPM").   Fifth Third Bank, National Association and ABN AMRO Securities (USA) LLC acted as co-managers. HSBC and ABN AMRO Bank N.V. acted as Joint Sustainability Coordinators.

Dr. Heinz Schimmelbusch, Chief Executive Officer of AMG, stated, “We want to thank our joint lead arrangers HSBC, Citi, BofA and JPM for their efficient work. The new long-term facility represents one very important building block in the execution of our stated target to increase EBITDA to $350 million, or more, in 5 years, or less. We are also happy to have a Sustainability Linked Loan. AMG is deeply invested in the subject of ESG, and is dedicated to producing critical materials in a sustainable and responsible manner. AMG was built to be a global leader in critical materials which are vital to the transition to clean energy and energy saving strategies.”  

About AMG

AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.

AMG Clean Energy Materials segment combines AMG’s recycling and mining operations, producing materials for infrastructure and energy storage solutions while reducing the CO2 footprint of both suppliers and customers. AMG Clean Energy Materials segment spans the vanadium, lithium, and tantalum value chains. AMG Critical Materials Technologies segment combines AMG’s leading vacuum furnace technology line with high-purity materials serving global leaders in the aerospace sector. AMG Critical Minerals segment consists of AMG’s mineral processing operations in antimony, graphite, and silicon metal.

With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).

For further information, please contact:
AMG Advanced Metallurgical Group N.V.+1 6109754979
Michele Fischer
mfischer@amg-nv.com

Disclaimer

Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.

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