A-Mark Precious Metals gets $225 million one-year secured revolver

By Angela McDaniels

Tacoma, Wash., April 5 – A-Mark Precious Metals, Inc. established a $225 million revolving credit line due March 31, 2017 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The facility has a $50 million accordion option and replaces the company’s existing $205 million credit facility.

The company may request up to $10 million of bridge loans under the facility.

The interest rate is Libor plus 250 basis points for revolving borrowings and Libor plus 450 bps for any bridge loan borrowings.

Cooperative Rabobank UA, New York Branch is the bookrunner, lead arranger and administrative agent.

A-Mark plans to use the facility to purchase precious metals from suppliers and for operating cash flow purposes.

Simultaneously with the effectiveness of the facility, the company entered into a security agreement with the banks securing the facility with substantially all of the company’s assets.

A-Mark is a precious metals dealer based in Santa Monica, Calif.

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