Daily News: August 21, 2017

Rabobank Agents $225MM A-Mark Facility Renewal


A-Mark Precious Metals, a full-service precious metals trading company and an official distributor for all the major sovereign mints, has renewed its syndicated line of credit led by Rabobank as administrative agent.

The facility provides access of up to $275 million, featuring a $225 million base with a $50 million accordion option. The facility marks the renewal and replacement of the company’s existing credit facility.

Rabobank also acted as the sole lead arranger and bookrunner in the syndicate. Natixis served in the role of syndication agent. Macquarie Bank joined the lender syndicate.

A-Mark intends to use the credit facility proceeds for the purchase of precious metals from suppliers and for general operating cash flow purposes.

“This facility meets our current liquidity requirements and, if needed, provides additional capacity so that we are well positioned to realize our full earnings potential when we see increases in market volatility and customer demand,” said A-Mark CEO Greg Roberts. “We are also pleased to welcome Macquarie Bank Limited as a new participant in our syndication. Their expertise in commodity finance makes them a great addition to the group of high-quality lenders that participate in our credit facility.”