ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Auramet Closes $350 Million Syndicated Revolving Credit Facility to Support Metals Franchise

Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $350 million syndicated revolving credit facility (the “Facility”) led by Macquarie Group (“Macquarie”). Macquarie’s Commodities and Global Markets business acted as Mandated Lead Arranger, Bookrunner and Administrative Agent for the Facility, which was well oversubscribed. The Facility complements Auramet’s various bilateral banking facilities.

Auramet welcomes the addition of Natixis, New York Branch to the bank group, joining the existing bank group that includes Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, Wells Fargo Bank, CIBC Bank USA, and Brown Brothers Harriman & Co. The Facility has been oversubscribed each year since inception.

“Auramet’s relationships and industry knowledge are the foundation of our 21-year history and our banks have consistently provided the strong support needed for our growth,” said Kimberly Oates, Auramet CFO. “Auramet strives to deliver the highest level of service to our clients through our understanding of their business and market conditions, and we pair that with experienced and responsive bankers in the commodity finance business. Liquidity is paramount in this industry, and this syndication will provide us additional capacity to meet the needs of our clients.”

“We are pleased to provide the Facility, further supporting Auramet and the financing of its global precious metals merchant business,” said John Spillane, Senior Managing Director in Macquarie’s Commodities and Global Markets business. “As a leader in commodity financing, Macquarie provided vital liquidity in collaboration with the financial institutions that comprise Auramet’s bank group.”

Macquarie previously led a $300 million syndicated revolving credit facility, which was also well oversubscribed.

About Auramet

Auramet is a global physical precious metals merchant with over $25 billion in annual revenues, providing a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company established in 2004 by a cadre of seasoned industry professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Auramet’s business consists of three main activities: physical metals trading, metals merchant banking (including direct lending and operating an affiliated investment vehicle), and advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector.

Contacts

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.