Macquarie Leads $275 Million Syndicated Financing for Precious Metals Merchant Auramet

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Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $275 million syndicated revolving credit facility (the “Facility”) led by Macquarie Bank Limited (“Macquarie”).

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, August 4, 2023
Information
Tags: 
Mining, Minerals, Natural Resources, CIBC Bank USA, HSBC Bank, International, Brown Brothers Harriman & Co., Commonwealth Bank, Lead arranger, Wells Fargo, HSBC Bank USA, Macquarie Group, Facility, Bookrunner, Bank
Geotags: 
UNITED STATES, NORTH AMERICA, NEW YORK, AUSTRALIA
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Organisation: 
AURAMET INTERNATIONAL, AURAMET INTERNATIONAL, INC., AURAMET
Summary
Key Points: 
  • Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $275 million syndicated revolving credit facility (the “Facility”) led by Macquarie Bank Limited (“Macquarie”).
  • Macquarie acted as Mandated Lead Arranger, Bookrunner and Administrative Agent for the Facility, which was well oversubscribed.
  • Auramet was pleased to expand its lender group to include Wells Fargo Bank.
  • 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.” – Mark Edelstein, Auramet CFO


Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $275 million syndicated revolving credit facility (the “Facility”) led by Macquarie Bank Limited (“Macquarie”). Macquarie acted as Mandated Lead Arranger, Bookrunner and Administrative Agent for the Facility, which was well oversubscribed. The Facility complements Auramet’s various bilateral banking facilities.

Auramet was pleased to expand its lender group to include Wells Fargo Bank. The Facility also includes previous participants Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, CIBC Bank USA, 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. 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.” – Mark Edelstein, Auramet CFO

About Auramet

Auramet is a global physical precious metals merchant with over $20 billion in annual revenues, providing a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company established in 2004 by a cadre of seasoned industry professionals who have assembled a global team of industry specialists with over 350 years combined industry experience. Auramet’s business consists of three main activities: physical metals trading, metals merchant banking (including direct lending and operating an affiliated investment vehicle), and advisory services. The company has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. Auramet is also proud to have been awarded a Gold Medal for its ESG commitment by EcoVadis, the world’s largest and most trusted provider of ESG ratings with a network of more than 90,000 rated companies.

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