Auramet International, a precious metals merchant, closed a $275 million syndicated revolving credit facility led by Macquarie Bank. Macquarie acted as mandated lead arranger, bookrunner and administrative agent for the facility, which was oversubscribed. The facility complements Auramet’s various bilateral banking facilities.
Auramet expanded its lender group to include Wells Fargo Bank. The facility also includes previous participants Coöperatieve Rabobank, HSBC Bank, Commonwealth Bank of Australia, CIBC Bank and Brown Brothers Harriman & Co.
“Access to liquidity is an important factor in our success as a commodity trading company as it enables us to anticipate and adapt rapidly to constantly changing market conditions,” Mark Edelstein, CFO of Auramet, said. “The continued strong support of our banks is an important part of our business and Auramet appreciates the long-standing relationships we have with experienced and responsive bankers that understand our markets.”