IXM S.A. (“IXM”) has successfully finalised and signed a $850 million revolving credit facility (“RCF” or “Facility”). This transaction, initially introduced at $700 million, attracted support from IXM’s banking partners and welcomed new banks. This led to an oversubscription, raising the total amount of the facility by over $200 million compared to the previous year.
The RCF is intended for general trade and working capital finance needs, including the refinancing of the existing $609 million 364-day revolving credit facility agreement from December 2022.
The Facility is divided into two primary sections:
- A $850 million 12-month revolving credit facility with options to extend for two additional 12-month periods; and
- A $100 million swingline loan facility, functioning as a sub-limit within the Facility.
Additionally, the Facility includes a $150 million accordion option.
Echoing the structure of IXM’s 2022 revolving credit facility agreement, the Facility is tied to IXM’s EcoVadis rating, underscoring IXM’s ongoing dedication to enhancing the ESG performance of its operations.
Jing Wu, IXM CFO & Deputy CEO said, “This annually rearranged facility highlights IXM’s escalated ambition of achieving more commercial successes in metals trading sector.”
The arrangement of the Facility was led by ING Bank N.V., Natixis CIB, Standard Chartered Bank, and UniCredit Bank AG, serving as Active Bookrunners. ING Bank N.V. took on the roles of Coordinator, Sustainability Coordinator, and Agent of the Facility.
