A-Mark Precious Metals has established a credit line with access up to $275 million, featuring a $225 million base with a $50 million accordion option. The facility has a one-year maturity and replaces the company’s existing $205 million credit facility on more favorable terms.
Rabobank is acting as the lead lender and administrative agent in the syndicate. A-Mark intends to use the trading credit facility for the purchase of precious metals from suppliers and for operating cash flow purposes.
“The trading facility provides us with a lower blended rate than that of our previous facility, along with more favorable financial covenants,” said A-Mark CEO Greg Roberts.
Santa Monica, CA-based A-Mark is a precious metals trading company.