Metals trader Gerald Group has grown its annual syndicated revolving credit facility (RCF) to US$230mn after attracting several fresh lenders. 

Gerald, which specialises in trading ferrous, non-ferrous and precious metals, says the oversubscribed facility renews last year’s RCF, which was closed at US$185mn after initially launching at US$150mn. 

Crédit Agricole Indosuez (Switzerland) and Deutsche Bank’s Luxembourg unit again act as joint senior bookrunners and mandated lead arrangers. Crédit Agricole is also sole active coordinator of the syndication, while Deutsche Bank is facility agent. 

UBS Switzerland renews its role as mandated lead arranger and also now acts as bookrunner. 

Banco do Brasil’s Shanghai branch, Banque de Commerce et de Placements, DBS’ London branch and Erste Group also returns as mandated lead arrangers, and are joined for the first time by Arab Banking Corporation. 

Société Générale joins as a new lead arranger, alongside Arab Bank (Switzerland), the London branch of Bank of China, Banque Cantonale Vaudoise, DZ Bank, UniCredit and Zürcher Kantonalbank. 

Banque Internationale de Commerce and Credit Europe Bank come on board as new participants, while GarantiBank International rejoins after first taking part in the facility last year. 

Following its 15th annual refinancing, the facility’s syndicate now comprises 18 international banks across Europe, Asia and the Middle East. 

“The RCF plays a vital role in providing liquidity to support our growth across the group’s metals and critical minerals trading,” says chief financial officer Patricia Nikolopoulos. 

Crédit Agricole Indosuez (Switzerland) adds in a statement: “We were delighted to close the facility at a higher level versus the previous year including four new participants in the pool, a result of the strong underlying fundamentals for Gerald’s metals business, strong teamwork and the strength of our client relationship.”