Gerald Group successfully refinances its twelfth Revolving Credit Facility

LONDON, Jan. 25, 2022 /PRNewswire/ -- Gerald Group ("Gerald / the Group"), the world's largest independent and employee-owned metals trading house has successfully executed its twelfth annual Revolving Credit Facility ("RCF") for US$ 140 million.

The Group, together with Credit Agricole and Credit Suisse (acting as Mandated Lead Arrangers), and Credit Agricole acting as Document Agent, and further supported by Deutsche Bank, DBS Bank, Banco do Brasil, Arab Bank, Banque Cantonale Vaudoise, Erste and UniCredit, arranged, documented and executed the RCF in under 2 months.

The 1-year committed, unsecured RCF includes a 364-day extension option and a US$ 200 million accordion feature. Gerald will use the facility for general corporate and working capital purposes and to refinance its maturing syndicated revolving credit facility.

"Gerald has achieved remarkable milestones during 2021, making it one of the best years in our 60-year history. The Group continues to benefit from our robust business model and deeply embedded risk and governance culture. We are proud and grateful for the strong relationships with our banks and their support, trust and understanding of our business and the important role Gerald plays in the global metals and transition materials space," said Craig Dean, Gerald Group's Chairman and Chief Executive Officer.

"We are extremely pleased with the refinancing of our committed RCF, hot off the back of our recent, heavily oversubscribed US$ 450 million North American Borrowing Base. Gerald's strong banking pool has demonstrated very positive support across our diverse funding model, and we are experiencing further growth from banks dedicated to battery materials and energy transition sectors who recognise the Group's  role as a leading global metals merchant," added Mital Patel, Global Head of Finance for Gerald Group.

ENDS

For further information, visit www.gerald.com or contact media@gerald.com / Tel: +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.

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