Freepoint Commodities upsizes its credit facility to $1.3 billion

By Wendy Van Sickle

Columbus, Ohio, June 1 – Freepoint Commodities LLC increased its revolving bank facility to $1.3 billion from $1 billion in a transaction that closed May 22, the company announced in a Monday news release.

The facility has a $1 billion three-year committed component and a $300 million one-year uncommitted portion, which renews annually, the company said. The deal was oversubscribed and increased Freepoint’s expiring $1 billion committed facility.

The company said the credit facility finances the physical merchant activities of its global commodities businesses.

BNP Paribas and MUFG are the joint lead arrangers and joint bookrunners for the new facility. BNP Paribas continues to be the administrative agent. Co-syndication and co-documentation agents include: Cooperatieve Central Raiffeisen-Boerenleenbank BA, Rabobank Nederland, New York branch; ING Bank NV; ABN AMRO Capital USA LLC; Natixis, New York branch; and Societe Generale, New York branch.

Based in Stamford, Conn., Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.

© 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.