Oryx Stainless signs agreement

Oryx Stainless (Thailand) Co., Ltd., under the umbrella of Oryx Stainless Holding B.V., has successfully entered into an amendment and restatement agreement to increase and extend the revolving Borrowing Base credit facility by Thai Baht 340M from Thai Baht 660M to Thai Baht 1bn to support the growth strategy of Oryx Stainless Group in Asia. The tenor of the extension is 3 years.

Oryx Stainless mandated HSBC Thailand as lead arranger to structure and arrange the Revolving Credit Facility transaction. Both, HSBC Thailand and KASIKORNBANK PCL acted as Lenders in this club deal. HSBC Singapore serves as Facility Agent and the legal documentation was prepared by Norton Rose Fulbright Thailand.

The new facility is substantially larger than Oryx Stainless’s previous Borrowing Base funding lines and also reflects the successful experience and growing interest from Thai corporates in using Borrowing Base finance as a tool for working capital management. Oryx Stainless’s secured Borrowing Base facility remains one of the very first solutions of its innovative and flexible kind in the Thai banking market.

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