INTL Commodities Renews and Increases Syndicated Loan
September 27 2010 - 9:11AM
International Assets Holding Corporation (INTL) (Nasdaq:IAAC) today
announced that its subsidiary INTL Commodities, Inc. ("INTL
Commodities") has completed the amendment and renewal of its senior
secured revolving credit facility in the amount of $140 million, an
increase from the previous $92 million (the "Credit Facility"). The
loan proceeds will continue to be used to finance INTL Commodities'
activities. The Credit Facility will be secured by INTL
Commodities' assets.
INTL Commodities focuses on physical precious metals, base
metals and other commodities, offering complete solutions to
producers, consumers, investors and merchants. Products and
services include spot, OTC swaps, forwards and derivatives,
customized hedge programs, margin trading, refining, physical
purchases and sales, and consignments. Extensive operational
and logistics expertise provides for a seamless execution of
physical transactions on a worldwide basis. INTL Commodities
is represented in New York, London, Florida, Dubai and
Singapore.
Sean O'Connor, CEO of INTL, commented, "We are pleased with this
result as the Credit Facility will provide us with additional
financial resources to grow our physical commodities
activities."
The Credit Facility was jointly arranged by BNP Paribas
Securities Corp., ABN AMRO Bank N.V. and Cooperatieve Centrale
Raiffeisen-Boerenleenbank B.A., "Rabobank Nederland" New York
Branch. Lenders under the Credit Facility include the Joint
Lead Arrangers and Mizuho Corporate Bank Ltd.
About International Assets Holding
Corporation
International Assets Holding Corporation (INTL) provides
execution and advisory services in commodities, currencies and
international securities. INTL's businesses, which include the
commodities advisory and transaction execution firm FCStone Group,
serve more than 10,000 commercial customers in more than 100
countries through a network of offices in eleven countries around
the world. Further information on INTL is available at
www.intlassets.com.
The International Assets Holding Corporation logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=5024
Forward Looking Statements
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statements regarding the combined company. All statements other
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"believe," "expect," "anticipate," "should," "plan," "will," "may,"
"could," "intend," "estimate," "predict," "potential," "continue"
or the negative of these terms and similar expressions, as they
relate to International Assets Holding Corporation, are intended to
identify forward-looking statements.
These forward-looking statements are based largely on current
expectations and projections about future events and financial
trends that may affect the financial condition, results of
operations, business strategy and financial needs of the combined
company. They can be affected by inaccurate assumptions,
including the risks, uncertainties and assumptions described in the
filings made by International Assets with the Securities and
Exchange Commission. In light of these risks, uncertainties and
assumptions, the forward-looking statements in this press release
may not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements. When you
consider these forward-looking statements, you should keep in mind
these risk factors and other cautionary statements in this press
release.
These forward-looking statements speak only as of the date of
this press release. International Assets undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Accordingly,
readers are cautioned not to place undue reliance on these
forward-looking statements.
CONTACT: International Assets Holding Corporation
Bill Dunaway
866-522-7188
bdunaway@intlassets.com
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