Nov 21, 2012 - US carbon-based product maker GrafTech International Ltd (NYSE:GTI) on Tuesday said it had completed its private issue of USD 300 million (EUR 234m) of unsecured senior notes, maturing in 2020.
The company plans to use the net proceeds of USD 295 million from the offering to repay outstanding sums under its revolving credit facility.
The notes carry an annual interest of 6.375%, which will be paid twice a year, on May 15 and November 15, starting in May 2013.
GrafTech makes high-quality synthetic and natural graphite and carbon based products for the steel, electronics and other industries. It also supplies carbon products for fuel cells and provides services to the solar power, power generation, oil and gas and other markets.