All amounts are expressed in U.S.
dollars.
MONTREAL, June 16,
2022 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP) ("5N
Plus" or the "Company"), a leading global producer of specialty
semiconductors and performance materials, today announced the
renewal of its US$124 million senior secured multi-currency
revolving syndicated credit facility. Subject to lenders' approval,
5N Plus can opt to increase its credit facility to $154 million through a $30
million accordion feature.
"In late 2021, supported by our senior lending partners, we
completed the acquisition of Germany-based AZUR SPACE GmbH, significantly
strengthening our specialty semiconductor value chain and
competitive capabilities in a critical sector, thereby also
expanding our addressable market. Today, 5N Plus has a growing and
resilient business with a greater proportion of revenues driven by
value-added products and promising end markets. We are pleased to
have the continued support of leading financial institutions to
fund our operations and growth initiatives as we pursue our growth
trajectory," said Mr. Perron, Chief Financial Officer of 5N
Plus.
The new credit facility has a four-year term, bearing interest
and a margin based on the Company's senior consolidated debt to
EBITDA[1] ratio. HSBC Bank Canada acted as sole lead arranger, sole
bookrunner and administrative agent for the syndicate of five
lenders participating in the credit facility.
Forward–Looking
Statements
Certain statements in this press release may be forward-looking
within the meaning of applicable securities laws. Forward-looking
information and statements are based on the best estimates
available to 5N Plus at the time and involve known and unknown
risks, uncertainties or other factors that may cause 5N Plus'
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward–looking statements. A
description of the risks affecting 5N Plus 'business and activities
appears under the heading "Risk and Uncertainties" of 5N Plus
annual MD&A dated February 22,
2022, Q1 MD&A dated May 4,
2022, and note 11 of the unaudited condensed interim
consolidated financial statements for the three-month periods ended
March 31, 2022 and March 31, 2021 available on www.sedar.com.
Forward–looking statements can generally be identified by the
use of terms such as "may", "should", "would", "believe", "expect",
the negative of these terms, variations of them or any similar
terms. No assurance can be given that any events anticipated by the
forward–looking information in this press release will transpire or
occur, or if any of them do so, what benefits that 5N Plus will
derive therefrom. In particular, no assurance can be given as to
the future financial performance of 5N Plus. The forward–looking
information contained in this press release is made as of the date
hereof and 5N Plus has no obligation to publicly update such
forward–looking information to reflect new information, subsequent
or otherwise, unless required by applicable securities laws. The
reader is warned against placing undue reliance on these
forward–looking statements.
About 5N Plus Inc.
5N Plus is a leading global producer of specialty semiconductors
and performance materials. The Company's ultra-pure materials often
form the core element of its customers' products. These customers
rely on 5N Plus's products to enable performance and sustainability
in their own products. 5N Plus deploys a range of proprietary and
proven technologies to develop and manufacture its products. The
Company's products enable various applications in several key
industries, including renewable energy, security, space,
pharmaceutical, medical imaging and industrial. Headquartered in
Montréal, Québec, 5N Plus operates R&D, manufacturing and
commercial centers in strategically located facilities around the
world including Europe,
North America and Asia.
Non–IFRS Measures
EBITDA means net earnings before interest expenses, income
taxes, depreciation and amortization. 5N Plus uses EBITDA because
it believes it is a meaningful measure of the operating performance
of its ongoing business, without the effects of certain expenses.
The definition of this non-IFRS measure used by the Company may
differ from that used by other companies.
SOURCE 5N Plus Inc.