Gerald Group closes oversubscribed Revolving Credit Facility of US$ 253.5 million for the tenth consecutive year

Gerald Group closes oversubscribed Revolving Credit Facility of US$ 253.5 million for the tenth consecutive year

London - January 20, 2020 /MarketersMedia/ —

Gerald Group ("Gerald”), the world’s largest independent, employee-owned metals trading house is pleased to have successfully executed its tenth annual Revolving Credit Facility (“RCF”) for US$
253.5 million.

The syndication, made up of an enlarged group of thirteen banks, including existing and new banking partners, was led by Credit Agricole Corporate & Investment Bank and ING Bank N.V. in their roles as Bookrunner and Coordinator, and a core group of lead arrangers including BNP Paribas, Credit Suisse and Deutsche Bank.

“I am pleased that the outstanding support from our leading commodity banking partners affords the Group valuable lender diversity, which in turn will support our continued growth globally. We have to thank Credit Agricole Corporate & Investment Bank and ING and all the banks that participated, for their continued support and confidence in Gerald,” said Craig Dean, Gerald Group’s Chairman and Chief Executive Officer.

“The 1-year RCF was launched in mid-October at US$ 200 million, with close to fifty per cent of the lending group pre-approved, and as a result of strong support, we closed less than sixty days later, with a higher commitment after seeing Gerald take part of the oversubscription, at US$ 253.5 million. The successful closure of our tenth consecutive financing demonstrates the strong relationship with our bank group,” said Mital Patel, Global Head of Finance for Gerald Group.

For further information, please visit www.gerald.com or contact:

Annanya Sarin media@gerald.com
Tel: +44 20 3805 2000 / +44 7507 583792

About Gerald Group
Gerald Group aims to contribute to world trade and economic development in a sustainable and responsible manner. Founded in 1962 in the United States, the Group is the world’s oldest and largest independent and employee-owned metals trading house. Headquartered in London, the Group is led by Chairman and CEO Craig Dean. Gerald is a dedicated and trusted partner to leading miners and processors, industrial consumers and major financial institutions and has market presence in all regions of the world. The Group operates trading hubs in Shanghai, Stamford and Switzerland for the merchanting of non-ferrous, ferrous and precious metals and related concentrates and raw materials. Gerald’s global footprint, conservative risk management culture, expert market intelligence, deeply experienced and innovative trading desks combined with logistics, storage and structured finance solutions, are complimented by strategic relationships, enhancing the business’ capability to provide customers access to a diverse and steady supply of resources.

Contact Info:
Name: Annanya Sarin
Email: Send Email
Organization: Gerald Group
Website: http://www.gerald.com/

Source URL: https://marketersmedia.com/gerald-group-closes-oversubscribed-revolving-credit-facility-of-us-2535-million-for-the-tenth-consecutive-year/88943432

Source: MarketersMedia

Release ID: 88943432

Latest News

Globes carpet kicks off with big sleeves and shades of pink

Feb 17, 2020

NEW YORK — Cynthia Erivo and Greta Gerwig rocked sparkling chokers as the Golden Globes red carpet kicked off Sunday, with Erivo in a hand-beaded custom Thom Browne gown and Gerwig in black and cream. Both went off-shoulder for the big night in Beverly Hills, California. Erivo, the “Harriet” star and fashion standout, said her dress includes designs of her favorite flower, the peony, at the hem and in her lining. The short-sleeve gown, Erivo told E!, took 800 hours. A huge blue stone dropped from her short necklace. Shades of pink had an early trend moment on Kirsten Dunst...

Judge: No slander in Alec Baldwin's comments on parking spat

Feb 17, 2020

NEW YORK — Alec Baldwin didn't slander a man in interviews about a parking dispute that turned physical, a judge has ruled as dueling lawsuits between the actor and the other driver continue. Baldwin's remarks — including claims that Wojciech Cieszkowski's driving was “really fast,” “really aggressive” and made the actor think his wife and son were about to be run over — were "hyperbole" and "rhetorical illustrations," Manhattan judge David B. Cohen wrote Thursday. “They are words of frustration with someone's driving,” not accusations that amount to slander, Cohen wrote. He tossed out Cieszkowski's slander claim, but his assault...

After son's death, Craig Morgan finds God's purpose in song

Feb 17, 2020

NASHVILLE, Tenn. — The last evening that country singer Craig Morgan spent with his 19-year-old son, Jerry, was during one of Morgan's performances at Grand Ole Opry three years ago. "The last pictures I have of us together is on that stage," Morgan, 55, said backstage at the Opry House this week. "So this is a very special place. It was anyway before, but now it has additional meaning, knowing this is where we hung out together." His son, Jerry, who was home visiting from college, died in a drowning accident on Kentucky Lake in July 2016. Three years later,...

Felicity Huffman released 11 days into 14-day prison term

Feb 17, 2020

SAN FRANCISCO — Actress Felicity Huffman was released Friday morning from a federal prison in California on the 11th day of a 14-day sentence for her role in the college admissions scandal, authorities said. The "Desperate Housewives" star was released from the low-security prison for women on Friday morning because under prison policy, inmates scheduled for weekend release are let out on Friday, the U.S. Bureau of Prisons said. Her husband, actor William H. Macy, dropped off Huffman — aka inmate No. 77806-112 — at the Federal Correctional Institution, Dublin in the San Francisco Bay Area on Oct. 15. A...

Nicki Minaj indicates she's now a married woman

Feb 17, 2020

NEW YORK — Ms. Minaj wants you to know she's now officially Mrs. Petty. Minaj — who has dated Kenneth Petty for about a year — seems to confirm her marriage with a video on Instagram on Monday that shows off Mr. and Mrs. coffee mugs and bride and groom hats. The rapper also changed her Twitter name to Mrs. Petty. Her caption read: "Onika Tanya Maraj-Petty 10-21-19." Minaj's real name is Onika Maraj. She did not offer additional information. The couple first dated as teenagers and reunited last year. She announced plans over the summer to wed. She has...

About Us

E-Stardom is the exclusive online news network for breaking entertainment news. We bring to you the premium coverage and fashion tips to your favorite celebrity style. Get your daily celebrity news fix only here in E-Stardom.

Contact us: sales[at]e-stardom.com

Subscribe Now!