Metals Repo Financing
We act as arranger for metals repo lines against verifiable
collateral. If it sits in a bonded warehouse, carries a transferable receipt or warrant, and can be sold fast, we’ll run it. If it’s an “ultra-fine copper powder” deck priced by the gram, save the email—credit won’t clear it.
Snapshot:
GMRA or similar repo docs, bonded custody with named warehouse receipts/LME warrants, SGS/BV/Intertek inspection tied to lot numbers, daily mark-to-market and margin calls, sensible haircuts. No SKRs, no “soft probe only,” no gram-priced fantasies.
Where we add value
LME metals (deliverable shapes)
Copper cathode, aluminium, zinc, nickel under warrant or bonded WR with clear exit liquidity.
Named concentrates
Recognised brands with assay, moisture controls, and identified smelter buyers.
In-transit with control
Title documents, collateral manager, cargo/war cover, and lender release rights.
Portfolio lines
Revolving repo against rolling lots with margining and eligibility criteria.
Debt products we arrange
Classic repo (GMRA) |
Purchase–repurchase with daily MTM, haircuts, and lender control of releases. |
Warehouse line |
Revolving facility secured on bonded inventory under collateral manager oversight. |
Pre-export/pre-payment |
Advance against offtake with assignment of receivables and export proceeds. |
In-transit repo |
Title over BLs, insurance and tracking; funds against documents with tight release terms. |
What makes inventory bankable
Title & custody |
Transferable warehouse receipt/LME warrant; bonded site; lender access and control. |
Inspection |
SGS, Bureau Veritas, Intertek, or Cotecna report matched to lot numbers and location. |
Valuation |
Exchange/benchmark pricing ± logistics and quality adjustments. No gram quotes. |
Exit liquidity |
Named smelters/fabricators or documented offtake; evidence of prior sales helps. |
Documentation |
GMRA or equivalent, governing law, events of default, margin mechanics, insurance endorsements. |
Indicative haircuts and appetite
Commodity & form |
Storage & evidence |
Typical LTV (Haircut) |
Notes |
Copper cathode (LME) |
Warrant or bonded WR + inspection |
65–85% (15–35%) |
Location/liquidity drive advance |
Aluminium, zinc, nickel |
Bonded WR + inspection |
60–80% |
Exchange link and deliverability |
Concentrates (named brands) |
Assay + custody, tight controls |
40–65% |
Moisture/penalties cut advance |
Powders, scrap, off-spec |
Case by case (usually decline) |
Low to none |
Exit is weak; not financeable |
Security package and controls
- Assignment of warehouse receipts/LME warrants and control of releases
- Share pledge over SPV where relevant
- All-assets charge on inventory and proceeds
- Accounts structure with waterfall and margin mechanics
- Insurance with lender endorsements; reinsurance where needed
Who we approach
Commodity trade finance desks, banks with repo appetite, specialist private credit funds, metals merchants with balance sheet, and select collateral managers. Targets are filtered by commodity, jurisdiction, ticket, and tolerance for in-transit risk.
Process and timeline
- Intake:
Send ask, commodity, location, storage info, and receipts/warrants.
- KYC:
Sponsor and SPV screening. Invoice issued after preliminary clearance.
- Underwriting:
Credit memo, risk map, CP list. First pass in 7–10 business days after full docs and cleared payment.
- Verification:
Warehouse call and independent inspection matched to lots.
- Distribution:
Staged send to repo lenders that match commodity and jurisdiction.
- Term sheet & closing:
GMRA, margining, insurance, filings, escrow, and funds flow.
Documentation checklist
Item |
Details |
Title & storage |
Warehouse receipt/LME warrant, warehouse address, manager contact, access letter |
Inspection |
SGS/BV/Intertek/Cotecna report tied to lot numbers; or permission to survey |
Valuation basis |
Benchmark reference and all logistics/quality adjustments |
Exit/buyers |
Named buyers or offtake history; prior invoices help |
Insurance |
Policy schedule, endorsements, and claims process |
KYC |
Sponsor identity, source of funds, sanctions screening |
Mandate and fees
Underwriting fee |
From $45,000 to $165,000 based on ticket size and complexity. Invoice after KYC. |
Success fee |
2.0% to 3.0% of funded amount. Minimums apply. |
Third-party costs |
Client pays legal, inspection, collateral management, insurance, filings. |
Refunds |
Fees are non-refundable once underwriting begins. |
FAQ
Do you accept SKRs?
No. We need transferable warehouse receipts or warrants under control, not screenshots.
Can you finance ultra-fine copper powder?
Almost never. Exit is weak, pricing is opaque, and “$2,000/gram” claims are non-starters.
How fast can you move?
First pass in 7–10 business days after full docs and cleared payment. Closing depends on custody and inspection.
Submit your metals repo enquiry
Send a fundable file. If it’s gram-priced powder with mystery storage, don’t bother.
Contact the Repo Desk
We are an arranger and advisor. We are not a lender and do not guarantee funding. All mandates are best efforts and subject to underwriting, KYC/AML, inspection, and legal review. Pay only to bank details on our official invoice. Be careful with unsolicited offers through unofficial channels.