Oryx Stainless

Innovative Borrowing Base Facility successfully closed in the amount of 660 million Thai Baht

Bangpakong/Thailand (ots) - Oryx Stainless (Thailand) Co., Ltd., under the
umbrella of Oryx Stainless Holding B.V., has successfully finalised a 660
million Thai Baht revolving Borrowing Base credit facility to support the growth
strategy of Oryx Stainless Group in Asia. The facility is structured as a
secured Borrowing Base and is amongst the very first solutions of its innovative
and flexible kind in the Thai banking market.

The Borrowing Base lending concept, under which lenders make available credit
facilities based on the value of underlying assets, is an ideal match for the
working capital financing of companies performing in volatile, cyclical or
seasonal business contexts. Oryx Stainless intends to use the facility primarily
to fund its working capital requirements for inventory purchases which vary
depending on developments in the global stainless steel markets as well as
fluctuations in commodity prices of underlying components such as Nickel. The
Borrowing Base ensures that sufficient funding is available at any point in
time, in line with business developments, to the benefit of both the company and
the lenders.

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

"Since nearly a decade, Oryx Stainless is active in the growing market of
South-East Asia and implementing a local Borrowing Base was our vision since the
very beginning. Thus, the recent closing of the Thai financing facility is a
further milestone in the successful development of our Thai operation and
underlines Oryx Stainless' good positioning not only in the European but also in
the Thai capital market.", says Roland Mauss, CFO of Oryx Stainless Group.

Marthijn Smit, CEO of Oryx Stainless Thailand underlines that "Oryx Stainless,
being always committed to the Kingdom of Thailand and its people, is very
pleased not only to operate but also to be innovatively financed in Thailand."
Sirichai Tempoomsuk, CFO of Oryx Stainless Thailand adds: "The Revolving
Borrowing Base Credit Facility breathing with the warehouse inventory is the
most intelligent form of financing that matches our business model, and we are
supported by our long-term strong and renowned banks as partners to realize it".

Kelvin Tan, CEO of HSBC Thailand, concludes "We are proud to be supporting the
sustainable growth of Oryx Stainless' business through facilitating this
flexible and innovative finance solution - one of the first of its kind to be