AMG Advanced Metallurgical Group to expand its spent catalyst recycling capacity
Amsterdam -- AMG Advanced Metallurgical Group N.V. announced that its Supervisory Board has approved a capital project to double its spent catalyst recycling capacity by building a new, greenfield plant in the operational vicinity of its current spent catalyst processing plant in Cambridge Ohio.
This new plant will be financed with the proceeds from the sale of up to $350 million tax-exempt bonds to be issued by the Ohio Air Quality Development Authority. The proceeds of the bonds will be lent to AMG Vanadium LLC, a subsidiary of AMG, and AMG will guarantee the repayment of the bonds.
The bonds will be senior, unsecured obligations of AMG. AMG has engaged Citigroup Global Markets and Morgan Stanley to act as underwriters with respect to the bonds. Subject to necessary approvals from the Ohio Air Quality Development Authority, AMG expects the bonds to be marketed at the end of June.
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