SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the Month of July, 2022
Commission File Number: 001-37668
(Name of Registrant)
5 Fleet Place
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒
Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
This Form 6-K consists of the following, which appears immediately following this page:
|●||Press release dated July 11, 2022 giving of notice of redemption of 9.0% Senior Secured Notes due 2025|
FERROGLOBE ANNOUNCES THE GIVING OF NOTICE OF REDEMPTION OF 9.0% SENIOR SECURED NOTES DUE 2025
Ferroglobe PLC (the “Parent” or “Ferroglobe”) and Ferroglobe Finance Company, PLC (the “Issuer”) today announce the giving of a notice of redemption of all of the 9.0% Senior Secured Notes due 2025 issued by the Issuer (the “Notes”) at 100% of the principal amount thereof plus accrued interest. On the date hereof, $60 million in aggregate principal amount was outstanding. The redemption date is expected to be July 21, 2022.
The Notes are expected to be redeemed with cash on the balance sheet.
Beatriz Garcia-Cos, the Chief Financial Officer of Ferroglobe commented, “Over the past few months we highlighted our expectation of an acceleration in cash flow generation, enabling us the opportunity to significantly decrease our gross debt. The redemption of the 9% senior notes is the natural place to begin deleveraging since we can redeem these bonds at par.” Mrs. Garcia-Cos continued, “As part of our gross debt deleveraging, we also purchased approximately $19 million of our 9.375% notes in the open market during early June. Collectively, our higher cost gross debt will be reduced by $79 million as a result of these two transactions.”
Ferroglobe PLC is one of the world’s leading suppliers of silicon metal, silicon- and manganese- based specialty alloys and ferroalloys, serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, electronics, automotive, consumer products, construction and energy. The Company is based in London. For more information, visit http://investor.ferroglobe.com.
This release contains “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe Ferroglobe’s future plans, strategies and expectations. 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”, “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 Ferroglobe and assumptions that management believe to be reasonable, but are inherently uncertain. As a result, Ferroglobe’s 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 Ferroglobe’s control.
Forward-looking financial information and other metrics presented herein represent Ferroglobe’s 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. You should not place undue reliance on any forward-looking statements, which are made only as of the date of this press release.
Executive Vice President - Investor Relations
Cristina Feliu Roig
Executive Director – Communications, Branding & Public Affairs
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 11, 2022
/s/ Marco Levi
Name: Marco Levi
Title: Chief Executive Officer (Principal Executive Officer)