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METALS & MINING | Metal & Mining Brokers/Distribution
gerald.com

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Founded Year

1962

Stage

Loan - II | Alive

Total Raised

$750M

Last Raised

$450M | 23 days ago

About Gerald Group

Gerald Group operates trading hubs in Shanghai, Stamford and Switzerland for the merchanting of non-ferrous, ferrous and precious metals and related concentrates and raw materials.

Gerald Group Headquarter Location

Third Floor, One Strand, Grand Buildings, Trafalgar Square

London, England, WC2N 5HR,

United Kingdom

+44 (0) 7507 583792

Latest Gerald Group News

ING leads oversubscribed refinancing facility for metals trader Gerald Group

Sep 29, 2021

ING has again partnered with metals trading house Gerald Group, leading on an oversubscribed US$450mn syndicated secured financing facility to support the company’s North American operations. Gerald says the transaction refinances the borrowing base facility of GT Commodities, its North American trading hub, and is intended to give ongoing support to its activities on the continent. ING, which acted as lead lender and administrative agent, is joined by Rabobank and HSBC as joint lead arrangers. Other participants include Crédit Agricole, Credit Suisse, Deutsche Bank, Bank of China, Raiffeisen Bank International and UniCredit. The deal follows the  2019 launch  of GT Commodities’ US$300mn borrowing base facility, a syndicated transaction also led by ING and including many of the same participant banks. The 2021 refinancing deal was heavily oversubscribed, with US$495mn from three new lenders and several existing ones, Gerald says. That total was scaled back before closing at US$450mn. Mital Patel, Gerald Group’s global head of finance and banking, says the deal demonstrates the company’s stability despite disruption and volatility in global supply chains. “The oversubscription and favourable pricing achieved in the refinancing shows clear confidence from commodity lenders in Gerald’s businesses,” Patel says. ING’s commodity finance head in North America, Matthew Rosetti, adds: “Given the significant increase of metal prices over the past 12 months, this facility increase and timely closing will enable them to continue on their growth trajectory in the North American region and execute on their strong positioning in the diversified metals space.”

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