Ferroglobe Announces the Full Redemption of its Remaining 9.375% Senior Secured Notes Due 2025
Summary
The full redemption of the Notes enhances our financial flexibility, enabling the company to implement a capital return policy and provide more attractive avenues for debt financing in the future. The repurchases and redemption of these notes, which began in 2023, saves us approximately $32 million in annual interest expense compared to 2022.Ferroglobe is a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. Forward-looking statements often use forward-looking terminology, including words such as anticipate, believe, could, estimate, expect, forecast, guidance, intends, likely, may, plan, potential, predicts, seek, target, will and words of similar meaning or the negative thereof.Forward-looking statements contained in this press release are based on information currently available to the Company and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobes 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 the Companys control.Forward-looking financial information and other metrics presented herein represent the Companys goals and are not intended as guidance or projections for the periods referenced herein or any future periods.All information in this press release is as of the date of its release. Ferroglobe does 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.