NEW YORK, June 29, 2009 (GLOBE NEWSWIRE) -- International Assets Holding Corporation (Nasdaq:IAAC) (the "Company") announced that its subsidiary INTL Commodities, Inc. has completed the renewal of its revolving syndicated loan in the amount of $62 million. The loan proceeds will continue to be used to finance the INTL Commodities' activities. The loan will be secured by INTL Commodities' assets.
INTL Commodities focuses on physical precious and base metals, 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 said, "The renewal was difficult in this banking environment. We are pleased with this result as the syndicated loan will provide us with the financial resources to continue our commodities activities."
The loan was arranged by Fortis Bank SA/NV, New York Branch. Participants include Fortis Bank SA/NV, New York Branch, Mizuho Corporate Bank Ltd., and Brown Brothers Harriman & Co.
About International Asset Holding Corporation (Nasdaq:IAAC)
International Assets Holding Corporation and its subsidiaries (the "Company") form a financial services group focused on select international securities, foreign exchange and commodities markets, and on asset management. We commit our capital and expertise to market-making and trading of international financial instruments, currencies and commodities. The Company's activities are currently divided into five functional areas - international equities market-making, international debt capital markets, foreign exchange trading, commodities trading and asset management. Additional information regarding the Company is available on the Company's web site at www.intlassets.com.
The International Assets Holding Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5024
Certain statements in this document may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including adverse changes in economic, political and market conditions, losses from the Company's market-making and trading activities arising from counterparty failures and changes in market conditions, the possible loss of key personnel, the impact of increasing competition, the impact of changes in government regulation, the possibility of liabilities arising from violations of federal and state securities laws and the impact of changes in technology in the securities and commodities brokerage industries. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reasonable assumptions, there can be no assurances that the actual results, performance or achievement of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements.