Oryx Stainless Group secures 80 million Euro credit facility
MÜLHEIM AN DER RUHR, Germany, Aug. 10, 2020 /PRNewswire/ -- As an important milestone in its financial strategy, Oryx Stainless Group has refinanced 80 million Euro out of a previous 100 million Euro syndicated credit facility. The facility size has been reduced as the company was able to set up an innovative borrowing base facility in the banking market in Thailand which covers part of the existing one. The funds will be used for working capital requirements.
In this transaction, HSBC acted as sole bookrunner, supported by Commerzbank, DZ Bank and Rabobank as Mandated Lead Arrangers. NRW Bank and Sparkasse Düsseldorf acted as Lead Arrangers.
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.
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HSBC Germany is part of the HSBC Group, one of the world's leading commercial banks. It is the "Leading International Bank" and has a network in more than 70 countries worldwide which account for more than 90% of global economic output. HSBC Germany's clients are companies, institutional clients, the public sector and high net worth private clients.
The Bank, which operates as HSBC Trinkaus & Burkhardt AG, stands for internationality, comprehensive advisory expertise, major placement power, first-class infrastructure and capital strength. With its "AA- (stable)" rating, it has the highest Fitch rating of all private commercial banks in Germany. HSBC Germany was founded in 1785 and has more than 2,800 employees in Düsseldorf and at a further eleven locations.