GRAFTECH INTERNATIONAL LTD. (NYSE:GTI) Files An 8-K Entry into a Material Definitive Agreement

On June 15, 2018, GrafTech International Ltd. (“GrafTech”) entered into a first amendment (the “First Amendment”) to its Credit Agreement (as defined below) among GrafTech, GrafTech Finance Inc., a Delaware corporation and a wholly owned subsidiary of GrafTech (“Finance”), as the borrower, GrafTech Switzerland SA, a Swiss corporation and a wholly owned subsidiary of GrafTech (“Swissco”), GrafTech Luxembourg II S.à.r.l., a Luxembourg société à responsabilité limitée and a wholly owned subsidiary of GrafTech (“Luxembourg Holdco”), the domestic wholly owned subsidiaries of GrafTech, as guarantors, and JPMorgan Chase Bank, N.A. as administrative agent and incremental term lender. The First Amendment amends the credit agreement dated February 12, 2018 (the “Credit Agreement”) among GrafTech, Finance, Swissco, Luxembourg Holdco, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A. as administrative agent and as collateral agent, to provide for an additional $750 million in aggregate principal amount of incremental term loans (the “Incremental Term Loans”) to Finance. The Incremental Term Loans increase the aggregate principal amount of term loans incurred by Finance under the Credit Agreement from $1,500 million to $2,250 million. The Incremental Term Loans have the same terms as those applicable to the existing term loans under the Credit Agreement, including interest rate, payment and prepayment terms, representations and warranties and covenants. The Incremental Term Loans mature on February 12, 2025, the same date as the existing term loans. GrafTech paid an upfront fee of 1.00% of the aggregate principal amount of the Incremental Term Loans on the effective date of the First Amendment.

The proceeds of the Incremental Term Loans were used to repay in full $750 million in principal amount of the outstanding indebtedness of GrafTech under the promissory note dated April 19, 2018, between GrafTech, as issuer, and BCP IV GrafTech Holdings LP, a Delaware limited partnership and majority stockholder of GrafTech, as the initial holder.

The information set forth under Item 1.01 above regarding the First Amendment is incorporated herein by reference.

About GRAFTECH INTERNATIONAL LTD. (NYSE:GTI)
GrafTech International Ltd. (GTI) is a manufacturer of graphite electrodes, products essential to the production of electric arc furnace (EAF) steel and other ferrous and nonferrous metals. The Company produces needle coke products, which are the primary raw material needed in the manufacture of graphite electrodes. The Company manufactures carbon, graphite and semi-graphite refractory products, which protect the walls of blast furnaces and submerged arc furnaces. The Company’s operating segments include: Industrial Materials, which include graphite electrodes, refractory products and needle coke products, and Engineered Solutions, which includes advanced graphite materials, advanced composite materials, advanced electronics technologies and advanced materials. The Company has seven product categories: graphite electrodes, refractory products, needle coke products, advanced graphite materials, advanced composite materials, advanced electronics technologies and advanced materials.