PRESS RELEASE – FOR IMMEDIATE RELEASE
Gerald Group signs US$225 million Revolving Credit Facility for ninth consecutive year
London, 12 December 2018 – 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.”
Notes to Editors
Gerald Group is the world’s largest independent and employee-owned metal trading house. Founded in 1962 in the United States, Gerald moved headquarters to London in 2017. Led by Chairman and CEO Craig Dean, the Group has approximately US$10 billion in turnover. 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, as well as related concentrates and raw materials. Gerald aims to contribute to world trade and economic development in a sustainable and responsible manner. The Group’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.