5N Plus announces new $250 million credit facility

About this update from 5n Plus Inc.

[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Aug. 12, 2011 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) announced\n today the closing of a new $250 million senior secured multi-currency\n revolving credit facility to replace its existing $50 million two-year\n senior secured revolving facility with National Bank of Canada. The new\n credit facility will be used to refinance existing indebtedness and for\n other corporate purposes, including capital expenditures and growth\n opportunities. The new credit facility has a four-year term and bears\n interest at either prime rate, U.S. base rate, LIBOR or EURO LIBOR plus\n a margin based on 5N Plus' senior consolidated debt to EBITDA\n ratio. 5N Plus also has a US$35 million credit facility in Asia.\n\n\nAt any time, 5N Plus has the option to request that the new credit\n facility be expanded to $350 million through the exercise of an\n additional $100 million accordion feature, subject to review and\n approval by the lenders.\n\n\nIn connection with the new credit facility, National Bank of Canada and\n HSBC Bank acted as co-lead arrangers and joint book runners, and five\n other banks as lenders.\n\n\nAbout 5N Plus\n5N Plus is the leading producer of specialty metal and chemical\n products. Fully integrated with closed-loop recycling facilities, the\n company is headquartered in Montreal, Québec, Canada and operates\n manufacturing facilities and sales offices in several locations in\n Europe, North America and Asia. 5N Plus deploys a range of proprietary\n and proven technologies to produce products which are used in a number\n of advanced pharmaceutical, electronic and industrial\n applications. Typical products include purified metals such as bismuth,\n gallium, germanium, indium, selenium and tellurium, inorganic chemicals\n based on such metals and compound semiconductor wafers. Many of these\n are critical precursors and key enablers in markets such as solar,\n light-emitting diodes and eco-friendly materials.\n\n\nForward-Looking Statements and Disclaimer\nCertain statements in this press release may be\n forward-looking. Forward-looking statements are based on the best\n estimates available to 5N Plus at the time and involve known and\n unknown risks, uncertainties and other factors that may cau...

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