International metals firm Nyrstar has signed the €400mn refinancing of its multi-currency structured commodity trade finance facility.

The four-year facility was “significantly oversubscribed” and includes the possibility to be increased to €750mn on a pre-approved but uncommitted basis, Nyrstar says.

The loan is priced at 1.85% above Euribor. Deutsche Bank acted as co-ordinating mandated lead arranger (MLA) and sole bookrunner. Other MLAs include ABN Amro, BNP Paribas, Goldman Sachs, KBC Bank, RBC Capital Markets, Société Générale and UBS. Lead arrangers include Bank of America Merrill Lynch, Scotiabank, Barclays, Credit Suisse, HSBC, JP Morgan, Natixis, RBS, Westpac and Zürcher Kantonalbank.

Heinz Eigner, chief financial officer of Nyrstar, says: “The structured commodity trade finance facility has demonstrated that is well suited to our smelting business as it adjusts to changing working capital requirements and will continue to be a cornerstone for our long-term financing needs.”