Global trader Gerald Group has boosted its annual revolving credit facility to US$185mn and attracted new banks, as the firm eyes expansion in the metals and minerals markets.

The oversubscribed revolving credit facility (RCF) was upsized from an initial launch value of US$150mn and will be used to finance the trader’s maturing 2023 facility and for general corporate purposes.

“The RCF provides the group with the liquidity to support our business as we grow and expand across the metals and critical minerals space,” says Patricia Nikolopoulos, Gerald Group’s chief financial officer.

Crédit Agricole and Deutsche Bank are once again joint bookrunners and mandated lead arrangers (MLAs), and also serve as sole active coordinator and facility agent, respectively.

Banque de Commerce et de Placements, DBS Bank, Erste and UBS take on MLA roles, while Arab Bank, Banco do Brasil, Banque Cantonale Vaudoise, DZ Bank, UniCredit, and Zürcher Kantonalbank re-join the syndication.

Bank of China and GarantiBank International are the two new lenders on the transaction.

“Despite a dynamic metals market fuelled by the global geopolitical environment, we were delighted to close the facility at a higher level versus the previous year including two 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,” Crédit Agricole CIB says.

US-headquartered Gerald has been steadily growing the size of its annual RCF in recent years, signing a deal worth US$180mn last January, after closing the facility at US$140mn in 2022.

As reported by GTR in November, the firm recently hired Alexandre Dietz to lead its finance unit.