Freepoint Commodities secures $2.6 billion revolving bank facility

By Sarah Lizee

Olympia, Wash., May 9 – Freepoint Commodities LLC closed a $2.6 billion revolving bank facility, an increase of 24% from the facility it closed a year ago, according to a press release.

The new revolver consists of a $1.69 billion three-year committed tranche and a $910 million one-year uncommitted tranche.

In addition, the revolver has a $600 million accordion feature.

BNP Paribas Securities Corp., MUFG Bank, Ltd. and Natixis, New York Branch are joint lead arrangers and bookrunners. BNP Paribas remains 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, Credit Agricole CIB, Credit Suisse (Switzerland) Ltd., Deutsche Bank AG, New York Branch, Industrial and Commercial Bank of China Ltd., New York Branch, Oversea-Chinese Banking Corp. Ltd., New York Agency, Standard Chartered Bank and UBS Switzerland AG.

DBS Bank, Ltd., HSBC Bank USA, NA and Wells Fargo Bank, NA have joined as new participants.

The revolver finances the physical merchant activities of Freepoint's global 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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