Freepoint Commodities closes $2.5 billion revolving bank facility

By Wendy Van Sickle

Columbus, Ohio, June 8 – Freepoint Commodities LLC has closed a $2.5 billion revolving bank facility, according to a news release.

The facility consists of a $1.5 billion three-year committed tranche and a $1 billion one-year uncommitted tranche.

In addition, the revolver has a $700 million accordion feature.

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. MUFG is the administrative agent.

Co-syndication and co-documentation agents are Rabobank, ING Bank NV, Societe Generale and Wells Fargo.

In addition, Freepoint extended the maturity of its $125 million subordinated secured credit facility.

The commodities merchant and financer of upper- and mid-stream commodity-producing assets is based in Stamford, Conn.

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