Auramet Closes $350 Million Syndicated Revolving Credit Facility to Support Metals Franchise

NEW YORK--(BUSINESS WIRE)--Auramet International, Inc. (“Auramet”), a leading precious metals merchant, is pleased to announce that it has closed a $350 million syndicated revolving credit facility (the “Facility”) led by Macquarie Group (“Macquarie”). Macquarie’s Commodities and Global Markets business 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 welcomes the addition of Natixis, New York Branch to the bank group, joining the existing bank group that includes Coöperatieve Rabobank U.A., N.Y. Branch, HSBC Bank USA, N.A., Commonwealth Bank of Australia, Wells Fargo Bank, CIBC Bank USA, and Brown Brothers Harriman & Co. The Facility has been oversubscribed each year since inception.

“Auramet’s relationships and industry knowledge are the foundation of our 21-year history and our banks have consistently provided the strong support needed for our growth,” said Kimberly Oates, Auramet CFO. “Auramet strives to deliver the highest level of service to our clients through our understanding of their business and market conditions, and we pair that with experienced and responsive bankers in the commodity finance business. Liquidity is paramount in this industry, and this syndication will provide us additional capacity to meet the needs of our clients.”

“We are pleased to provide the Facility, further supporting Auramet and the financing of its global precious metals merchant business,” said John Spillane, Senior Managing Director in Macquarie’s Commodities and Global Markets business. “As a leader in commodity financing, Macquarie provided vital liquidity in collaboration with the financial institutions that comprise Auramet’s bank group.”

Macquarie previously led a $300 million syndicated revolving credit facility, which was also well oversubscribed.

About Auramet

Auramet is a global physical precious metals merchant with over $25 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.