In order to support the growth strategy of the Oryx Stainless Group in Asia, Oryx Stainless (Thailand) Co., Ltd., operating under the auspices 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 340 million Thai Baht from 660 million Thai Baht to 1 billion Thai Baht.

The extension will last for three years.
HSBC Thailand was chosen by Oryx Stainless to serve as the transaction’s lead arranger for the revolving credit facility. In this club agreement, the lenders were KASIKORNBANK PCL and HSBC Thailand jointly. While Norton Rose Fulbright Thailand created the legal paperwork, HSBC Singapore acts as the facility agent.
The new facility reflects Oryx Stainless’s successful experience and the increased interest from Thai corporates in adopting borrowing base finance as a tool for working capital management. It is also significantly larger than Oryx Stainless’s prior borrowing base funding lines. The secured Borrowing Base facility from Oryx Stainless is still one of the first creative and adaptable options on the Thai banking market.

Source: Prnewswire