Oryx Stainless refinances €80 million of syndicated credit facility

By Taylor Fox

New York, Aug. 10 – Oryx Stainless Group has refinanced €80 million of a previous €100 syndicated credit facility, according to a news release.

The facility size has been reduced as Oryx was able to set up an innovative borrowing base facility in the banking market in Thailand that covers part of the existing facility.

The funds will be used for working capital requirements.

HSBC is the bookrunner. Commerzbank, DZ Bank and Rabobank are mandated lead arrangers. NRW Bank and Sparkasse Dusseldorf are lead arrangers.

Based in Muelheim, Germany, Oryx processes stainless steel scrap.

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