Ferroglobe Announces (A) Results of Offer to Exchange the 9⅜% Senior Notes Due 2022 for a Combination of New 9⅜% Senior Secured Notes Due 2025 and Equity Fee and Consent Solicitation Relating to the 9⅜% Senior Notes Due 2022 and (B) Receipt of Offers to Subscribe for Additional 9.0% Senior Secured Notes Due 2025
Exchange Offer and Consent Solicitation
According to information provided by
Pursuant to the terms set forth in Offering and Consent Solicitation Memorandum dated
Accordingly, the Parent has received consents (the "Consents") sufficient to approve certain proposed amendments (the "Proposed Amendments") to the indenture governing the Old Notes (the "Old Notes Indenture") on the terms and conditions set forth in the Offering and Consent Solicitation Memorandum. The Proposed Amendments provide for the elimination of substantially all of the restrictive covenants, all of the reporting covenants and certain of the events of default in the Old Notes Indenture. The Proposed Amendments to the Old Notes will become effective upon execution of a supplemental indenture to the Old Notes Indenture (the “Supplemental Indenture”) which will be entered into promptly after the satisfaction or waiver of the Exchange Offer Conditions (as defined below). Any Old Notes not validly tendered pursuant to the Exchange Offer prior to the Expiration Date will remain outstanding and the holders will remain subject to the terms of the Old Notes Indenture as amended by the Supplemental Indenture.
The consummation of the Exchange Offer remains subject to satisfaction or waiver of certain conditions (the “Exchange Offer Conditions”). The Exchange Offer Conditions include (i) the receipt of at least
The complete terms and conditions of the Exchange Offer and the Consent Solicitation are described in the Offering and Consent Solicitation Memorandum, copies of which may be obtained by qualifying noteholders by contacting
Super Senior Notes Offer
The Parent has received offers from qualifying noteholders or their nominated participants to purchase
The complete terms and conditions of the Exchange Offer, the Consent Solicitation and the Super Senior Notes Offer are described in the Offering and Consent Solicitation Memorandum, copies of which may be obtained by qualifying noteholders by contacting
The New Notes and the New Notes guarantees and the Super Senior Notes and the Super Senior Notes guarantees have not been, and will not be, registered under the
This release contains “forward-looking statements” within the meaning of
Forward-looking statements contained in this press release are based on information currently available to Issuers and assumptions that management believe to be reasonable but are inherently uncertain. As a result, Issuers’ actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Ferroglobe’s control.
All information in this press release is as of the date of its release. Issuers do not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.
This press release is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities in
Executive Vice President - Investor Relations
Executive Director – Communications & Public Affairs
Source: Ferroglobe PLC