Business
5N Plus Announces New US$125 Million Syndicated Credit Facility
MONTREAL , Aug. 7, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of ...
About this update from 5n Plus Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Aug. 7, 2014 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the\n leading producer of specialty metal and chemical products, announced\n today the signing of a new US$125 million senior secured multi-currency\n revolving syndicated credit facility which will replace its existing\n US$100 million senior secured revolving facility. This new credit\n facility is more correlated with the Company's balance sheet and will\n be used to refinance existing indebtedness and for other corporate\n purposes, including capital expenditures and growth opportunities. The\n new credit facility is on a revolving basis, has a four-year term and\n carries interest at either prime rate, U.S. base rate, HK base rate or\n Libor plus a margin based on 5N Plus' senior consolidated debt to\n EBITDA ratio.At any time, 5N Plus has the option to request that the\n new credit facility be expanded to US$150 million through the exercise\n of an additional US$25 million accordion feature, subject to review and\n approval by the lenders.\n\n\nIn connection with the new credit facility, HSBC Bank acted as lead\n arranger and book runner, and the syndicate of lenders, led by HSBC\n Bank, as administrative agent, comprises six other banks and financial\n institutions.\n\n\nRichard Perron, Chief Financial Officer of 5N Plus, said \"This credit\n facility provides the Company with an expanded and flexible credit\n line, at lower rates than the current credit facility. We are very\n happy to have the support of leading Canadian and international\n financial institutions towards funding our operations and growth\n initiatives\".\n\n\nAbout 5N Plus Inc.\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, the Americas 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 applications. \n Typical products include purified metals such as bismuth, gallium,\n germanium, indium, selenium and tellurium, inorganic chemicals based on\n such metals and compound...