Ferroglobe Announces Closing of $100 Million Asset-Based Revolving Credit Facility
Ferroglobe PLC - Ordinary Shares (GSM)
Last ferroglobe plc - ordinary shares earnings: 3/2 05:20 pm
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Source: GlobeNewswire
LONDON, Oct. 11, 2019 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe” or the “Company”) today announced the closing of a new, five-year $100 million North American asset-based revolving credit facility (the “ABL Revolver”), between Globe Specialty Metals, Inc. (“Globe”) and QSIP Canada ULC, each a subsidiary of the Company, as borrowers and PNC Bank, National Association (“PNC”), as lender and agent. The ABL Revolver replaces the Company’s revolving credit facility (the “RCF”). At closing, the initial drawing under the ABL Revolver together with cash from Ferroglobe’s balance sheet will be used to discharge in full the Company’s obligations under the RCF, repurchase certain accounts receivable from the Company’s accounts receivable securitization program and pay associated fees and expenses. Going forward, drawings under the ABL Revolver will be used to fund working capital needs of Globe and its subsidiaries and for general corporate purposes. At the current drawn
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Earnings
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GSM
Sec Filings
- 11/20/24 - Form SC
- 11/6/24 - Form 6-K
- 10/28/24 - Form SC
- GSM's page on the SEC website