Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Freepoint Commodities LLC > News item |
Freepoint Commodities closes $2.63 billion revolving bank facility
By Mary-Katherine Stinson
Lexington, Ky., June 9 – Freepoint Commodities LLC has closed a $2.63 billion revolving bank facility, according to a news release.
The facility consists of a $1,578,000,000 three-year committed tranche and a $1,052,000,000 one-year uncommitted tranche.
In addition, the revolver has a $570 million accordion feature.
BNP Paribas Securities Corp., MUFG Bank, Ltd. and Natixis, New York Branch are joint lead arrangers and bookrunners. Cooperatieve Rabobank UA, New York Branch, Societe Generale and Wells Fargo Bank, NA are joint lead arrangers. BNP Paribas remains as the administrative agent.
Co-syndication and co-documentation agents are Cooperatieve Rabobank, ING Bank NV, Societe Generale and Wells Fargo Bank, NA.
Other continuing participating banks include 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 CIB, Deutsche Bank AG, New York Branch, Oversea-Chinese Banking Corp. Ltd., New York Agency, Commonwealth Bank of Australia, HSBC Bank USA, NA, Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corp.
In addition, Freepoint extended the maturity of its subordinated secured credit facility and increased it by $125 million.
“We are extremely appreciative of the longstanding support and loyalty of our lender group. Our refinancing was once again over-subscribed, demonstrating our lenders' ongoing commitment to our business as we continue to grow our global platform." Freepoint chief executive officer David A. Messer said in the release.
The commodities merchant and financer of upper- and mid-stream commodity-producing assets is based in Stamford, Conn.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.