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OCI.AS on Amsterdam Stock Exchange

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Oci FY adjusted EBITDA down at $466.5 million
Monday, 27 Mar 2017 04:14am EDT 

Oci NV : Reported on Friday FY revenue decreased 12.8 pct to $1.91 billion, mainly due to lower 2016 average selling prices . FY Adjusted EBITDA $466.5 million versus $736.2 million year ago .FY net income after discontinued operations attributable to shareholders $167.9 million versus $384.7 million year ago.  Full Article

OCI Partners qtrly net loss of $17 mln
Monday, 13 Mar 2017 08:30am EDT 

OCI Partners LP : OCI Partners LP reports 2016 fourth quarter results . OCI Partners LP- qtrly revenues decreased 25% to $66 million compared to $88 million for same period in 2015 .OCI Partners LP- qtrly net loss of $17 million compared to net income of $15 million for same period in 2015.  Full Article

Oci makes offer to acquire all publicly held common units of OCIP
Tuesday, 6 Dec 2016 09:23am EST 

Oci NV : Makes offer to acquire all publicly held common units of OCIP . Oci is proposing an exchange ratio of 0.5200 Oci N.V. Shares for each publicly-held unit of Oci Partners . Oci currently owns 79.88 pct of issued and outstanding common units of Oci Partners . Oci will offer 9.10 million newly issued Oci N.V. shares, to be admitted to listing on Euronext Amsterdam, representing approximately 4 pct of total Oci shares currently outstanding .Proposed exchange ratio represents a value of $7.80 per unit to Oci Partners minority shareholders.  Full Article

OCI announces $660 mln financing facilities with final maturity 2020
Thursday, 17 Nov 2016 01:03pm EST 

OCI NV : Announces $660 million financing facilities with final maturity 2020 to replace and upsize existing $550 million revolving credit facility (RCF) . Financing package comprises a $370 million RCF and a $290 million term loan facility tranche . First repayment starts in January 2019, with final maturity of July 2020 . Facility has been jointly coordinated by Credit Agricole CIB and Rabobank as bookrunning mandated lead arrangers . Company intends to draw all funds under this facility in euros . Egyptian fertilizer company (EFC), our Egyptian urea operation, has agreed with its lenders to waive all covenants until maturity of its facilities in 2019 . Launched proposal with OCI Beaumont's term loan B lenders to reduce third party debt at OCI Beaumont by $200 million and reset covenants . CFO says: "As a result of these new facilities and measures, we would have no significant debt maturities until late 2018" . Expects step-up in operating cash flow, as result of growth capital expenditure coming to an end, imminent start-up of Iowa fertilizer company and higher volumes from Egypt operations .Objective to achieve investment grade ratings by 2018.  Full Article

Oci H1 EBITDA up 40.3 pct at $498 mln
Tuesday, 6 Sep 2016 02:37am EDT 

Oci NV : H1 revenue decreased 14.6 pct to $982.0 million, mainly due to lower selling prices and lost revenue in the netherlands due to fire incident . H1 EBITDA increased 40.3 pct to $498.0 million, adjusted EBITDA decreased 25.8 pct to $291.5 million . H1 net income more than doubled to $218.4 million, adjusted net income decreased 65.5 pct to $45.1 million . Net debt $4.3 billion as of June 30, 2016, down from $4.6 billion as of March 31, 2016 . Says Greenfield initiatives are on track to boost our current production capacity by 50 pct by end-2017 . "Methanol prices already started improving in recent months and demand remains strong, supporting a promising outlook for our methanol operations" - CEO . May also seek disposal of non-core assets and/or seek partnerships in certain stakes to accelerate the strengthening of our balance sheet . Objective to achieve investment grade ratings by 2018/2019 .Starting 2017, expects to enter a phase of consolidation, where all operational cash flows from the step-up in product volumes will be used to deleverage the balance sheet.  Full Article

OCI receives further cash proceeds of $232 million
Friday, 26 Aug 2016 02:06am EDT 

OCI NV : Receives further cash proceeds of $232 million . Has sold and monetised its remaining outstanding shareholder loans of $169 million in Natgasoline . This transaction is in addition to the monetisation of over $300 million of shareholder loans to Natgasoline over the last few months, through the tax exempt bond issuance and the Natgasoline subscription agreement . Oci n.v.'s share of 2015 Sorfert dividends is $70 million of which it will receive $63 million net of withholding taxes .Total net proceeds to OCI of $232 million from the above-mentioned transactions, combined with the fund raisings and refinancing of OCI Nitrogen bring the total cash proceeds to OCI N.V. between May and August 2016 to more than $1.3 billion.  Full Article

OCI announces 550 million euros financing facilities for OCI Nitrogen
Friday, 19 Aug 2016 02:18am EDT 

Oci NV : Reported on Thursday that subsidiary OCI Nitrogen has successfully concluded the refinancing and upsizing of its outstanding debt with 550 million euros ($623.48 million)of term loans and revolving credit facilities .OCI Nitrogen intends to use the net proceeds to refinance 300 million euros of debt and provide the remaining proceeds to its parent company, OCI N.V.  Full Article

OCI expects further deleveraging in 2017
Monday, 23 May 2016 02:36am EDT 

OCI NV : Q1 total volumes sold amounted to almost 2.0 million metric tons, a 26.4 pct increase compared to same period last year . Net debt stood at c.$4.6 billion as of March 31, 2016 . Expects lower net debt at end of 2016 compared to net debt of about $4.3 billion as of Dec. 31, 2015 . Selling prices decreased significantly compared to both Q1 and Q4 of 2015 .Expects further deleveraging in 2017.  Full Article

CF Industries terminates combination with OCI's European, North American and global distribution businesses
Monday, 23 May 2016 01:01am EDT 

Cf Industries Holdings Inc : Termination of proposed combination of cf industries with OCI's European, North American and global distribution businesses . Treasury announcement on april 4, 2016 materially reduced structural synergies of combination . Co unable to identify an alternative acceptable to both parties and, therefore, agreed to terminate combination .As contemplated in combination agreement, cf will pay oci $150 million in connection with termination.  Full Article

OCI and CF Industries announce termination proposed combination
Monday, 23 May 2016 01:01am EDT 

OCI NV : Termination of proposed combination of CF Industries with OCI's European, North American and global distribution businesses .CF will pay OCI $150 million in connection with termination.  Full Article

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