Gerald Group successfully closes thirteenth Revolving Credit Facility of US$ 180 million

January 30, 2023

Gerald Group (“Gerald / the Group”), the world’s largest independent and employee-owned metals trading house is pleased to announce the successful closure of its new annual syndicated Revolving Credit Facility (“RCF”) for US$180 million. The RCF was oversubscribed and was upsized from its initial launch at US$125 million. The one-year committed, unsecured RCF will be used by Gerald for refinancing the maturing US$140 million facility and for general corporate purposes.

In total, 13 financial institutions participated in the syndication, with the Group receiving tremendous support from existing and new lenders. CA Indosuez (Switzerland) SA – subsidiary of Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd and Deutsche Bank Luxembourg S.A. acted as Joint Book-Runners and mandated Lead Arrangers. Credit Agricole Corporate and Investment Bank was the Document Agent, and Deutsche Bank Luxembourg S.A. was the Facility Agent. Other participants were DBS Bank Ltd London Branch, Erste Group Bank AG, Arab Bank (Switzerland) Ltd, Banco do Brasil S.A. Shanghai Branch, Banque Cantonale Vaudoise, Banque de Commerce et de Placements SA, DZ Bank AG, UniCredit Bank AG, Zürker Kantonalbank and UBS Switzerland AG.

“We are pleased with the strong support from our existing and expanded syndicate, which is a tribute to the strong relationships we have with our bankers, as well as Gerald Group’s continued growth, resilience and strong business performance in 2022. This facility will further strengthen our liquidity model, allowing the Group to successfully navigate the commodity markets in 2023,” said Patricia Nikolopoulos, Gerald Group’s Chief Financial Officer.

“Credit Agricole Corporate and Investment Bank is proud to have led the US$180m Revolving Credit Facility refinancing for Gerald Group, the world’s largest independent and employee-owned metals trading house, as the sole active Mandated Lead Arranger and Bookrunner. Despite a challenging market, the deal was oversubscribed, which is testimony to the strength of Gerald’s business and the confidence of the banking pool with 4 new joiners. The successful syndicate closing was the result of the excellent teamwork and strength of our client relationship which enabled us to make this happen,” stated Credit Agricole Corporate and Investment Bank.

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