A-Mark Precious Metals closed a committed, three-year, $350 million credit facility led by CIBC Bank, replacing its existing $280 million credit facility. The new credit facility became effective on Dec. 21 and matures on Dec. 20, 2024. CIBC Bank acted as administrative agent and joint lead arranger for the facility.
“The new credit facility reflects the strong performance of our business and our capital partners’ confidence in the resiliency of our expanded vertically integrated model,” Greg Roberts, CEO of A-Mark Precious Metals, said. “The upsizing to $350 million represents the largest revolving line in the company’s history, as we added a number of new lenders to expand our lender base while reducing our interest costs. With this new credit facility, the $100 million asset-backed securitization for our secured lending segment and our significant access to repo and precious metals lease facilities, we believe we have significant access to attractively priced capital to continue executing on our growth strategy.”
