Freepoint Commodities renews, extends $2.1 billion revolving facility

By Tali Rackner

Minneapolis, May 10 – Freepoint Commodities LLC closed on a $2.1 billion revolving bank facility consisting of a $1,445,000,000 three-year committed tranche and a $655 million one-year uncommitted tranche, according to a press release.

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

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

Co-syndication and co-documentation agents include ABN AMRO Capital USA LLC, Cooperatieve Rabobank UA, New York branch, ING Bank NV and Societe Generale.

Other continuing participating banks include Bank of China, New York branch, Commonwealth Bank of Australia, Credit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd., Deutsche Bank AG, New York branch, Industrial and Commercial Bank of China Ltd., New York branch, Standard Chartered Bank and UBS Switzerland AG.

Oversea-Chinese Banking Corp. Ltd., New York Agency joined as a new participant.

The revolver finances the physical merchant activities of Freepoint's global commodities businesses, the release said.

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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