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PRESS RELEASE by RHI Magnesita.
RHI Magnesita N.V. (LSE: RHIM), a global leading supplier of refractory products, systems and services, announces that Magnesita Refratários S.A (through its fully-owned subsidiary Magnesita Finance Ltd) has given notice today for the early redemption of US$70 million of its US$250 million 8.625% Perpetual Notes, to be effected on January 26, 2018, at a price equal to 100% of the principal amount plus accrued and unpaid interest.
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 1,200°C 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 visit: www.rhimagnesita.com