RHI Magnesita N.V. Completion of Term Loan Refinancing (5341I)

TIDMRHIM

RNS Number : 5341I

RHI Magnesita N.V.

22 March 2018

RHI Magnesita N.V.

("RHI Magnesita" or the "Company")

COMPLETION OF TERM LOAN REFINANCING

22 March 2018, London - RHI Magnesita N.V. (LSE: RHIM), a global leading supplier of refractory products, systems and services, announces that it has signed an agreement to refinance existing facilities with a new EUR305.6 million 5 year term loan, with an initial cost of Euribor (no floor) + 75bps. This new term loan replaces the existing EUR477.2 million syndicated term and revolving loan agreement executed in July 2017, for which only EUR266.5m had been drawn down. The Company expects the loan to be disbursed in 30 days, subject to certain standard conditions precedent.

The refinancing extends the final maturity of the term loan by one year, from June 2022 to June 2023, and allows the Company flexibility to pursue further balance sheet and funding cost synergies. Following the refinancing, RHI Magnesita will continue to have ample liquidity and cash flows to meet its short term obligations, including the outflow in connection with the Integrated Tender Offer for the minority shares of Magnesita Refratários S.A.

This initiative is in connection with Company's focus on strengthening its financial positon, improving free cash flow and reducing its interest expenses.

About RHI Magnesita

RHI Magnesita is the result of the combination of RHI and Magnesita to form the global leading supplier of high-grade refractory products, systems and services which are indispensable for industrial high-temperature processes exceeding 1,200degC in a wide range of industries, including steel, cement, non-ferrous metals, and glass, among others. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves more than 10,000 customers in nearly all countries around the world.

The Company has unmatched geographic diversification with more than 14,000 employees in 35 main production sites and more than 70 sales offices. RHI Magnesita intends to use its global leadership position in terms of revenue, greater scale, complementary product portfolio and diversified geographic presence around the world to target opportunistically those countries and regions benefitting from more dynamic economic growth prospects.

For more information please visit: www.rhimagnesita.com

Enquiries:

RHI Magnesita N.V.

Eduardo Gotilla, Head of Corporate Finance and Investor Relations

Tel [phone]

E-mail: [e-mail]

Stefan Rathausky, Head of Corporate Communications

Tel [phone]

E-mail: [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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March 22, 2018 03:01 ET (07:01 GMT)