Labrador Iron Mines Holdings Ltd (LBRMF)

[SittingPretty]

$LBRMF ING Leads Syndicated Financing of $300 Million for Gerald Group
NEWS PROVIDED BY
ING Capital LLC
Oct 08, 2019, 09:00 ET

Present day News for Gerald Group
(Majority shareholder of the LBRMF network)

ING Leads Syndicated Financing of $300 Million for Gerald Group
ING Logo. (PRNewsFoto/ING Financial Holdings Corporation)
NEWS PROVIDED BY

ING Capital LLC
Oct 08, 2019, 09:00 ET

The facility's structure includes a US$50 million accordion feature which provides Gerald with the flexibility to expand the deal to support GTC's growing business in the North American region.

"Gerald Group is extremely pleased to have closed this debut transaction for which there was very strong support from the commodity finance community. This facility is important in underpinning the Group's continued growth ambitions for North America," said Mital Patel, Global Head of Finance, Gerald Group. "ING is one of Gerald's most valued global finance partners. For this deal, their team in New York proved to be quick and responsive. Working with Rabobank and Deutsche, they provided Gerald and the extended banking group with competitive terms and certainty of execution, which was critical for such an important transaction."

https://www.prnewswire.com/news-releases/ing-leads-syndicated-financing-of-300-million-for-gerald-group-300933752.html