Armajaro Holdings Ltd., the London-based owner of a hedge fund that trades commodities, hired BNP Paribas SA and Standard Chartered Plc to arrange a $75 million revolving credit facility to refinance existing debt, according to three people with knowledge of the matter.
The borrower and the two bookrunners are hosting a bank meeting in London tomorrow to discuss the one-year loan, said the people, who asked not to be identified because the deal is private. Under a revolver, money repaid can be borrowed again.
Armajaro Holdings is the owner of a hedge fund founded by Richard Gower and Anthony Ward in 1998. The company trades sugar, cocoa and coffee through its Armajaro Trading Group unit.
Andrew Mitchell, a London-based Armajaro spokesman, wasn’t immediately available for comment.