Freepoint Commodities Renews Its Revolving Credit Facility at USD 2.63 Billion; Allows Growth to USD 3.2 Billion
09 Jun, 2022, 11:25 ET
STAMFORD, Conn., June 9, 2022 /PRNewswire/ -- Freepoint Commodities LLC ("Freepoint") today announced that it has closed a USD 2.63 billion revolving bank facility (the "Facility"). The Facility consists of a USD 1,578,000,000 three-year committed tranche and a USD 1,052,000,000 one-year uncommitted tranche. Additionally, the Facility has a USD 570 million accordion feature.
BNP Paribas Securities Corp ("BNP Paribas"), MUFG Bank, Ltd. and Natixis, New York Branch are Joint Lead Arrangers and Bookrunners for the Facility. Coöperatieve Rabobank U.A., New York Branch, Société Générale and Wells Fargo Bank, N.A., are Joint Lead Arrangers. BNP Paribas remains as the Administrative Agent. The Co-Syndication and Co-Documentation Agents are Coöperatieve Rabobank U.A.., New York Branch, ING Bank N.V., Société Générale and Wells Fargo Bank, N.A. The other continuing participating banks are Credit Suisse (Switzerland) Ltd.; UBS Switzerland AG; Industrial and Commercial Bank of China Ltd., New York Branch; Bank of China, New York Branch; Credit Agricole Corporate and Investment Bank; Deutsche Bank AG, New York Branch; Oversea-Chinese Banking Corporation Limited, New York Agency; Commonwealth Bank of Australia, HSBC Bank USA, N.A., Mizuho Bank, Ltd., and Sumitomo Mitsui Banking Corporation.
Simultaneously, Freepoint extended the maturity of its subordinated secured facility and increased the facility size to USD 125 million.
"We are extremely appreciative of the longstanding support and loyalty of our lender group," said David A. Messer, Freepoint's CEO. "Our refinancing was once again over-subscribed, demonstrating our lenders' ongoing commitment to our business as we continue to grow our global platform."
Founded in 2011, Freepoint is based in Stamford, CT with over 500 employees worldwide. Freepoint is a global commodities merchant of physical commodities providing customers with physical supply and logistics chain management and services, together with eco-friendly products and solutions.
SOURCE Freepoint Commodities LLC
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