Oryx Stainless Group extends 100 million Euro credit facility – HSBC sole bookrunner
Prematurely Oryx Stainless Group, under the umbrella of Oryx Stainless Holding B.V., has successfully extended a 100 million Euro syndicated revolving borrowing base credit facility which originally was to mature in July 2018. The funds will still be used to finance inventories, receivables and other current assets in domestic and foreign locations.
An unchanged group of six banks comprise the credit agreement: HSBC again functions as sole bookrunner and mandated lead arranger; in addition Commerzbank and Rabobank (mandated lead arranger) as well as NRW Bank, Société Générale and DZ Bank (lead arranger) continue their involvement.
“Planning reliability and financial strength are of utmost importance to continue the dynamic growth of our Group. By successful extending the credit facility until 2020 together with our long standing banks we achieved these targets efficiently and on very good terms,” explained Roland Mauss, CFO of Oryx Stainless AG. Andreas Voglis, Co-Head of Corporate Banking, HSBC Germany, added “As an important player in the stainless steel scrap market, Oryx Stainless has already begun to successfully expand its activities in Asia years ago, which we will gladly continue to support with individual financing solutions. The extension of the syndicated revolving credit facility on competitive terms offers the necessary security of funding to ensure the positive development of the Oryx Stainless Group, especially in Asia, and the projected further growth.”
Notes for the editorial staff:
The Oryx Stainless Group, founded in 1990, is one of the world’s leading trading organisations for raw materials used in the production of high-quality stainless steels. The company focuses its business activities on the handling and processing of stainless steel scrap into Oryx Stainless Blends. These secondary raw material blends – individually adapted for the respective stainless steel producers – replace above all primary raw materials.
Contacts
Roland Mauss
Oryx Stainless Holding B.V.
Phone +49 208 58 09 0
mauss@oryx.com
Betty Stevens
HSBC Deutschland
Phone +49 211 910-3540
betty.stevens@hsbc.de
