International metals firm Nyrstar has increased its multi-currency structured commodity trade finance facility from €400mn to €500mn.

The facility includes an accordion to increase further to €750mn on a pre-approved but uncommitted basis.

The amount that Nyrstar may draw down under the facility is determined by reference to the value of Nyrstar’s inventories and receivables, the borrowing base, and accordingly adjusts as commodity prices change.

Commenting on the increased limit, CFO Chris Eger says: “Over the past 12 months we have experienced an increase in working capital requirements as a result of improved commodity prices. Augmenting this facility by €100mn will further enhance the liquidity at an attractive cost of capital.”