AMG Critical Materials N.V.
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Publicatie datum
22 okt 2008 - 11:34
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG Subsidiary Timminco Announces Increase In Revolving Line Of Credit
Bericht
Amsterdam, 21 October 2008 --- AMG Advanced Metallurgical Group N.V.'s ("AMG", EURONEXT AMSTERDAM: "AMG") 50.4% subsidiary Timminco Limited ("Timminco"; TSX: TIM) has amended its Credit Agreement with Bank of America, N.A. to increase the maximum revolving credit line ("the Revolver") to US$50.0 million from US$32.8 million. The Revolver bears interest at US prime rate plus 0.5% to 1.25%, does not require minimum repayments and is secured by Timminco's assets. The availability of the Revolver is subject to the borrowing base net of an availability reserve. The Credit Agreement expires on March 31, 2010.
Timminco intends to use the increased credit line to finance potential increases in working capital in support of the ramp up of its solar grade silicon production, as the new production facility, currently under construction, is commissioned in mid 2009.
Datum laatste update: 01 september 2024