Paris, 17 January 2017, 8:30 am
PRESS RELEASE
ERAMET group: 2-year maturity extension of the Syndicated Revolving Credit Facility
ERAMET announces the renegotiation of the terms of its €981 million Revolving Credit Facility, extending its maturity by 2 years. The initial maturity schedule included amortisations of €85 million in January 2017 and €896 million in January 2018. Amortisations have now been extended to €115 million in January 2018, €85 million in January 2019 and €781 million in January 2020.
This agreement with ERAMET main banks contributes to the improvement of its balance sheet structure, together with the Group's cost reduction and productivity improvement plan, an increased selectivity on investment decisions and the implementation of an asset disposals programme, most of which was completed in 2016.
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ABOUT ERAMET
ERAMET is one of the leading global producers of:
- alloying metals, particularly manganese and nickel, used to improve the properties of steel,
- high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET is also developing high growth potential activities, such as mineral sands (titanium dioxide and zirconium), lithium and recycling.
The Group employs approximately 14,000 people in 20 countries.
CONTACT
Vice President Strategy and Financial Communication
Philippe Gundermann - Tel: +33 (0)1 45 38 42 78
Strategic and Financial Communication Analysts
Ludovic Donati - Tel: +33 (0)1 45 38 42 88
Arthur Perroton - Tel: +33 (0)1 45 38 37 32
For more information: www.eramet.com
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