This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Edgen Group Announces Proposed Refinancing Plans And Updated 2012 Guidance

Proposed New ABL Credit Facility

Following the completion of the offering of the New Notes, Edgen Group expects to enter into a new global asset-backed revolving credit facility to replace its two existing senior secured asset-backed revolving credit facilities. Edgen Group expects that the new credit facility will be a multi-currency facility with sublimits available to its subsidiaries in the United States and certain foreign countries. The proposed new facility is currently under discussion with potential financing sources. The terms of the new credit facility described above may change and such changes may be significant. There can be no assurance that Edgen Group will be able to enter into the new credit facility on terms satisfactory to it or at all.

Updated 2012 Outlook

In conjunction with the proposed refinancing plans, Edgen Group has revised its previously announced fiscal year 2012 Adjusted EBITDA guidance. Edgen Group currently expects its fiscal year 2012 Adjusted EBITDA to be in the range of $146 million to $156 million (an estimated increase from fiscal year 2011 Adjusted EBITDA of 16% to 24%), compared to previous expectations of $154 million to $162 million. This update in Adjusted EBITDA guidance is attributable to market conditions in Europe, Middle East and Africa (EMEA) within Edgen Group’s E&I Segment. Based on current market conditions and customer business levels, Edgen Group is not updating its fiscal year 2012 revenue guidance of $1.9 billion to $2.1 billion. Actual results could fall outside the Adjusted EBITDA ranges presented in our guidance. The expected range of Adjusted EBITDA and the assumptions underlying this range are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks. Accordingly, you should not place undue reliance on this guidance.

About Edgen Group

Edgen Group is a leading global distributor of specialized steel products and services to the energy and industrial infrastructure markets, including steel pipe, valves, quenched and tempered and high yield heavy plate and related components. Edgen Group is headquartered in Baton Rouge, Louisiana.

5 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.01 1.05%
FB $97.75 -6.10%
GOOG $682.74 -0.12%
TSLA $142.31 -12.00%
YHOO $27.05 -3.29%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs