Gerald Group Secures Record Commitments for Its Revolving Credit Facility
In a notable development for the financial landscape, Gerald Group, a major global trader in metals and minerals, has successfully completed its sixteenth annual refinancing of unsecured revolving credit facility (RCF). This latest refinancing has been marked by an overwhelming response from lenders, allowing the group to close on a substantial total commitment of $365 million. This amount represents an increase of $135 million over the previous year’s fundraising, highlighting the growing confidence in Gerald Group’s financial health and business outlook.
Patricia Nikolopoulos, the Chief Financial Officer of Gerald Group, expressed her satisfaction with the outcomes of this year's refinancing, emphasizing that it enhances the company's financial flexibility in today's rapidly changing market environment. "We are thankful for the tremendous support from our banking partners and value the market response that reflects ongoing confidence in our strategy, resilience, and long-term growth ambitions," she stated.
Notably, the credit agreement was over-subscribed, and as a result, several existing lenders raised their commitments, with the incorporation of seven new banks into the syndicate. This consortium now comprises a total of 24 international banks from various regions, demonstrating a strong collaborative spirit in securing financial backing for Gerald Group’s operations.
Credit Agricole Corporate and Investment Bank played a pivotal role as the sole active syndication coordinator, serving alongside Deutsche Bank as both the facility agent and a lead arranger. UBS Switzerland AG also contributed as a bookrunner and mandated lead arranger, with Abu Dhabi Commercial Bank PJSC and First Abu Dhabi Bank PJSC marking their debut as new bookrunners in this financing round.
Furthermore, various banks including Arab Banking Corporation SA, Banco Do Brasil S.A., and Erste Group Bank AG participated as mandated lead arrangers, together strengthening the financial backing for Gerald Group’s operations.
Alexandre LAGUIAN, from Credit Agricole Indosuez, commented on the highlights of this refinancing, stating that the increase to a commitment of $365 million over last year’s $230 million indicates solid fundamentals in the Gerald Group's metal business. He further noted that the strength of existing customer relationships and the excellent cooperation among all stakeholders contributed to this positive outcome. Additionally, the arrival of seven new participants in the syndicate, including First Abu Dhabi PJSC, underscores the renewed market trust in Gerald Group's strategies.
Founded in the United States in 1962, Gerald Group specializes in non-ferrous, ferrous, and precious metals, as well as critical minerals. The company provides tailored services that encompass logistics, transportation, and delivery of metals throughout the global supply chain—from mines and smelters to industrial clients and end-users around the clock. Under the leadership of Executive Chairman and CEO Craig Dean, Gerald Group forges strategic partnerships, makes targeted investments, and conducts structured finance transactions to maintain a significant role in the global economy.
The company's integrated network includes trading desks located in Stamford (CT), Geneva, Shanghai, and Dubai, supported by a committed workforce and a robust global infrastructure via subsidiaries, joint ventures, and strategic partnerships.
This refinancing effort reflects Gerald Group's proactive approach in the market, showcasing not only their resilience but also a steadfast commitment to their long-term growth strategy, which ultimately benefits both their partners and the broader commodities trade industry.
For more details, visit the Gerald Group's official website at www.gerald.com.
Patricia Nikolopoulos, the Chief Financial Officer of Gerald Group, expressed her satisfaction with the outcomes of this year's refinancing, emphasizing that it enhances the company's financial flexibility in today's rapidly changing market environment. "We are thankful for the tremendous support from our banking partners and value the market response that reflects ongoing confidence in our strategy, resilience, and long-term growth ambitions," she stated.
Notably, the credit agreement was over-subscribed, and as a result, several existing lenders raised their commitments, with the incorporation of seven new banks into the syndicate. This consortium now comprises a total of 24 international banks from various regions, demonstrating a strong collaborative spirit in securing financial backing for Gerald Group’s operations.
Credit Agricole Corporate and Investment Bank played a pivotal role as the sole active syndication coordinator, serving alongside Deutsche Bank as both the facility agent and a lead arranger. UBS Switzerland AG also contributed as a bookrunner and mandated lead arranger, with Abu Dhabi Commercial Bank PJSC and First Abu Dhabi Bank PJSC marking their debut as new bookrunners in this financing round.
Furthermore, various banks including Arab Banking Corporation SA, Banco Do Brasil S.A., and Erste Group Bank AG participated as mandated lead arrangers, together strengthening the financial backing for Gerald Group’s operations.
Alexandre LAGUIAN, from Credit Agricole Indosuez, commented on the highlights of this refinancing, stating that the increase to a commitment of $365 million over last year’s $230 million indicates solid fundamentals in the Gerald Group's metal business. He further noted that the strength of existing customer relationships and the excellent cooperation among all stakeholders contributed to this positive outcome. Additionally, the arrival of seven new participants in the syndicate, including First Abu Dhabi PJSC, underscores the renewed market trust in Gerald Group's strategies.
Founded in the United States in 1962, Gerald Group specializes in non-ferrous, ferrous, and precious metals, as well as critical minerals. The company provides tailored services that encompass logistics, transportation, and delivery of metals throughout the global supply chain—from mines and smelters to industrial clients and end-users around the clock. Under the leadership of Executive Chairman and CEO Craig Dean, Gerald Group forges strategic partnerships, makes targeted investments, and conducts structured finance transactions to maintain a significant role in the global economy.
The company's integrated network includes trading desks located in Stamford (CT), Geneva, Shanghai, and Dubai, supported by a committed workforce and a robust global infrastructure via subsidiaries, joint ventures, and strategic partnerships.
This refinancing effort reflects Gerald Group's proactive approach in the market, showcasing not only their resilience but also a steadfast commitment to their long-term growth strategy, which ultimately benefits both their partners and the broader commodities trade industry.
For more details, visit the Gerald Group's official website at www.gerald.com.
Topics Financial Services & Investing）
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