Freepoint Commodities closes $2.1 billion revolving facility due 2020

By Angela McDaniels

Tacoma, Wash., April 24 – Freepoint Commodities LLC said it closed a $2.1 billion revolving bank facility.

The revolver was extended for another three-year term, to April 2020, and consists of a $1,445,000,000 three-year committed tranche and a $655 million one-year uncommitted tranche, according to a company news release.

In addition, the revolver has a $300 million accordion feature.

BNP Paribas Securities Corp., MUFG and Natixis, New York Branch are the joint lead arrangers. BNP Paribas and MUFG are also joint bookrunners. BNP Paribas remains as the administrative agent.

Co-syndication and co-documentation agents include ING Bank NV, Natixis, New York branch, Societe Generale and Cooperatieve Rabobank UA, New York Branch.

Other continuing participating banks include ABN Amro Capital USA LLC, Commonwealth Bank of Australia, Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., Deutsche Bank AG, New York branch and UBS Switzerland AG.

Bank of China, New York Branch, Industrial and Commercial Bank of China Ltd., New York Branch and Standard Chartered Bank have joined as new participants.

The revolver finances the physical merchant activities of Freepoint's commodities businesses.

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

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