Gerald Group Closes US $ 450 Million North American Core Debt Facility with Record Oversubscription

LONDON, September 28, 2021 / PRNewswire / – Gerald Group (“Gerald”), the world’s largest independent and employee-owned metals trading house, is pleased to announce the successful refinancing of Gerald’s North American trading center GT Commodities LLC (“CGV”) The basic loan facility (“BBF”) closed at 450 million US dollars.

ING Capital SARL (“ING”) acted as Principal Lender and Administrative Agent for the refinancing of GTC’s current secured financing facility, with Rabobank and HSBC as Joint Lead Arrangers (JLA). Other club deal members included Agricultural credit, Swiss credit, German Bank, Bank of China, Raiffeisen International Bank and UniCredit. BBF from GTC, which was launched at $ 300 million received record subscriptions from $ 495 million existing and new lenders, and after reducing the closure to 450 million US dollars. The financial flexibility that BBF offers GTC will continue to support Gerald’s North American operations.

“Despite the continued disruption and volatility of global supply chains, Gerald Group continues to demonstrate that it is a stable partner throughout the supply chain. The Group remains focused on sustainable growth and plays a critical role in the energy transition to a brighter future. The oversubscription and favorable pricing achieved in the refinancing show a clear confidence of the commodity lenders in Gerald’s business. We really appreciate the strong relationships we have with our existing banking group and we We welcome the addition of three new participants to the credit facility, ”said Mital Patel, global director of financial and banking services for Gerald Group.

“ING is pleased to partner again with Gerald Group for the success of this transaction and the strong demand generated by the market, which testifies to the strength of the company’s activities, both globally and regionally” , said Matthieu rosetti, head of the ING Commodity Finance team in North America. “Given the significant increase in metal prices over the past 12 months, this facility increase and timely shutdown will allow them to continue their growth trajectory in the North American region and execute their solid positioning in the diverse space of metals. “

Gerald Group: Annanya Sarin: [email protected] Phone: +44 20 3805 2000 / +44 7507 583792

ING: Melissa Kanter: [email protected] Tel: + Tel +1 646 424 7021

About the Gérald group

Gerald Group aims to contribute to global trade and economic development in a sustainable and responsible manner. Founded in 1962 in United States, the Group is the oldest and largest independent metals trading house owned by its employees. Based at London, the Group is managed by the Chairman and Chief Executive Officer Craig Dean. Gerald is a dedicated and trusted partner of major miners and processors, industrial consumers and major financial institutions and has a market presence in all regions of the world. The Group operates commercial hubs in Shanghai, Stamford and Switzerland for trading in non-ferrous, ferrous and precious metals and related concentrates and raw materials. Gerald’s global footprint, conservative risk management culture, in-depth market knowledge, deeply experienced and innovative trading desks, combined with logistics, storage and structured finance solutions, are complemented by strategic relationships , improving the company’s ability to provide customers with access to a diverse and stable supply. of resources.

About ING Capital LLC

ING Capital LLC is a financial services company providing a full range of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect US subsidiary of ING Bank NV and is part of ING Groep NV (NYSE: ING), a global financial institution with a strong European base. The goal of ING Bank NV is to empower people to stay ahead in life and in business.

Gérald SOURCE Group

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