PARMA, Ohio--(BUSINESS WIRE)--Nov. 20, 2012--
GrafTech International Ltd. (NYSE:GTI) announced today the completion of
its previously announced private offering of $300 million aggregate
principal amount of unsecured 6.375% Senior Notes due 2020 (the
“Notes”). The Notes are the Company's senior unsecured obligations and
rank pari passu with all of the Company's existing and future senior
unsecured indebtedness. The Notes are unconditionally guaranteed on a
senior basis by the Company's existing and future subsidiaries that
guarantee certain other indebtedness of the Company or another guarantor.
The Notes were issued pursuant to an Indenture among the Company, the
subsidiary guarantors and U.S. Bank National Association, as Trustee.
The Notes bear interest at a rate of 6.375% per year, payable
semi-annually in arrears on May 15 and November 15 of each year,
commencing on May 15, 2013. Interest will accrue from November 20, 2012.
The Notes mature on November 15, 2020.
The net proceeds to the Company from the offering will be approximately
$295 million, after deducting initial purchaser discounts, commissions
and estimated offering expenses. The Company intends to use the net
proceeds to repay amounts currently outstanding under its revolving
This announcement shall not constitute an offer to sell or the
solicitation of an offer to buy the notes.
GrafTech International offers innovative graphite material solutions
for our customers in a wide range of industries and end markets,
including steel manufacturing, advanced energy and latest generation
electronics. GrafTech operates 19 principal manufacturing facilities on
four continents and sells products in over 70 countries. Headquartered
in Parma, Ohio, GrafTech employs 3,000 people.
NOTE ON FORWARD-LOOKING STATEMENTS: This news release and
related discussions may contain forward-looking statements about the
offering. We have no duty to update these statements. Actual future
events could differ materially, positively or negatively, from these
statements due to changes in economic, market or industry conditions,
changes in governmental, central bank, tax or other policies, changes in
our business and other risks and uncertainties, including those detailed
in our SEC filings, as well as future decisions by us.
Source: GrafTech International Ltd.
GrafTech International Ltd.
Kelly Taylor, 216-676-2000