This new plant will be financed with the proceeds from the sale of up to US$350 million tax exempt bonds to be issued by the Ohio Air Quality Development Authority.
The proceeds of the bonds will be lent to AMG Vanadium LLC, a subsidiary of AMG, and AMG will guarantee the repayment of the bonds. The bonds will be senior, unsecured obligations of AMG. AMG has engaged Citigroup Global Markets and Morgan Stanley to act as underwriters with respect to the bonds. Subject to necessary approvals from the Ohio Air Quality Development Authority, AMG expects the bonds to be marketed at the end of June.
