HSBC acted as sole bookrunner; Commerzbank, DZ Bank and Rabobank acted as mandated lead arrangers; and NRW Bank and Sparkasse Düsseldorf acted as lead arrangers on the refinancing of €80 million ($94.11 million) of Oryx Stainless Group’s previous €100 million ($117.64 million) syndicated credit facility.

The facility size was reduced because Oryx set up a borrowing base facility in the banking market in Thailand that covers part of the existing facility. Oryx will use the funds for working capital requirements.

Oryx Stainless Group, founded in 1990, is a trading organization for raw materials used in the production of stainless steels.