Gerald renews $240 million North American borrowing facility

By Taylor Fox

New York, Oct. 6 – Gerald Group announced the renewal of its North American syndicated borrowing base credit facility, according to a news release.

Gerald's North American trading hub, GT Commodities LLC, closed its $240 million facility with an oversubscription from an initial launch amount of $175 million.

This facility supports Gerald's existing metal trading, logistics and merchant activities in North America, while incorporating an accordion feature to accommodate its growth and expansion.

ING Capital LLC was lead lender and administrative agent for the facility.

Rabobank was lead arranger, and Credit Suisse joined at the top participation level.

The syndication included increased participation from Credit Agricole and HSBC, and continued support from Deutsche Bank.

Gerald Group is a metals merchant based in London.

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