Item 1.01. Entry into a Material Definitive Agreement.

Credit Agreement

On August 28, 2012, Horsehead Holding Corp. (the "Company") entered into a Credit Agreement (the "Credit Agreement") with Banco Bilbao Vizcaya Argentaria, S.A., a Spanish bank, and Horsehead Corporation ("Horsehead"), a Delaware corporation and a wholly-owned subsidiary of the Company. The Credit Agreement provides for financing of up to Euros 18,831,401.25 for purchases under the contracts between Horsehead and Tecnicas Reunidas, S.A., a Spanish corporation, of equipment and related products and services for Horsehead's new zinc facility in Rutherford County, North Carolina (the "new zinc facility") and payment of $968,090.25 (subject to adjustment as provided in the Credit Agreement regarding changes in the Dollar:Euro exchange rate), for the premium for the insurance on such loan issued by Compania Espanola de Seguros de Credito a la Exportacion.

The Credit Agreement provides for drawings thereunder to be repaid semiannually over a period ending on August 2021, amortizing over that period, and bearing interest at a per annum rate equal to LIBOR plus 3.20 percent. The obligations of Horsehead under the Credit Agreement are secured by an unconditional guarantee of the Company, but are not secured by security interests or mortgages on any real or personal property of Horsehead, the Company or any of the Company's other direct or indirect subsidiaries.

The description of the Credit Agreement contained in this Current Report on Form 8-K is qualified in its entirety by reference to the complete text of the Credit Agreement filed as Exhibit 4.1 and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation

The information set forth under "-Credit Agreement" in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The list of exhibits in the Exhibit Index to this report is incorporated herein by reference.

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