Auramet International, a precious metals merchant, has closed a $300 million syndicated revolving credit facility led by Macquarie Group. Macquarie acted as mandated lead arranger, bookrunner and administrative agent for the facility, which was well oversubscribed.
The facility was oversubscribed through the existing bank group that includes Coöperatieve Rabobank, N.Y. Branch, HSBC Bank USA, Commonwealth Bank of Australia, Wells Fargo Bank, CIBC Bank USA and Brown Brothers Harriman.
“Auramet’s core value includes building and maintaining client relationships using a wealth of industry knowledge and experience, while providing the highest level of customer service and attention and seeks banking relationships that mirror its client relationships,” Mark Edelstein, chief financial officer of Auramet, said. “The consistently strong support of our banks over our 20-year history is a testament to our long-standing relationships. Liquidity is vital to our business and our bank group is comprised of the most knowledgeable and responsive bankers in the commodity finance business.”
“We are proud to lead the efforts in financing Auramet’s global precious metals merchant business,” John Spillane, senior managing director in Macquarie’s commodities and global markets business, said. “As a leader in commodity financing, Macquarie provided vital liquidity in collaboration with the financial institutions that comprise Auramet’s bank group.”
