GFI obtains $50 million credit line to support derivatives business
The credit line was co-ordinated by Barclays Capital, the investment banking arm of Barclays Bank, and was provided by a syndicate including Barclays Bank, Bank of America and Brown Brothers Harriman.
“Our goal is to provide a range of services that really help foster liquidity in the less commoditised, high-growth areas,” said Chris Giancarlo, executive vice-president for corporate development at GFI.
Giancarlo added that the company intends to use the private equity capital to expand its trading platforms, data services and online execution capabilities in the above areas, focusing primarily on credit derivatives services.
“Credit derivatives are an area in which we have a strong role and are bullish on future prospects,” he said.
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