Gerald Group (“Gerald”), the world’s largest independent, employee-owned metal trading house announced that it successfully executed its ninth consecutive, annual Revolving Credit Facility (“RCF”) for US$225 million. The 1-year RCF was launched at US$200 million, and following strong support closed with a higher commitment, seeing Gerald take part of the oversubscription, raising the RCF to US$225 million. The syndication made up of 15 banks was led by ING Bank N.V., in its roles as sole Bookrunner and Coordinator, and a core group of lead arrangers including BNP Paribas (Suisse) SA, Credit Suisse (Switzerland) Ltd., and Deutsche Bank AG.
Vittorio Conti, Chief Financial Officer, commented: “I am delighted that we have successfully re-financed the RCF for the ninth consecutive year, and that we had closed syndication in record time. We have to thank ING Bank and all our banking partners who participated, for their outstanding and continued support in Gerald Group.”
