AMG Advanced Metallurgical Group closed a new facility, increasing its borrowing ceiling from $320 million to $400 million and the maturity has been extended from May 2018 to July 2021. HSBC coordinated the financing.

“Our amended credit facility has improved terms and conditions, additional capacity, and a new five-year maturity,” said Jackson Dunckel, AMG’s CFO. “The amended facility provides AMG with a stable capital base and additional liquidity for strategic growth opportunities. We are grateful to the entire bank group for their continued support of AMG.”

The amended facility maintains an accordion feature that allows the company, subject to certain conditions, to increase the commitment amount by up to $100 million. Lloyds Securities, UniCredit Bank and Fifth Third Bank served as joint bookrunners and mandated lead arrangers. SEB and Citibank also served as mandated lead arrangers.

Amsterdam-based AMG is a global critical materials company producing highly engineered specialty metals and mineral products.