Freepoint Energy Solutions Receives Numerous Accolades for Exemplary Performance: Energy provider sets a new industry standard by earning Excellence Awards in all 3 major categories of a leading retail energy survey

HOUSTONJuly 6, 2020 /PRNewswire/ — Freepoint Energy Solutions (“Freepoint Energy”), a subsidiary of Freepoint Commodities LLC (“Freepoint Commodities”), has been recognized by Energy Research Consulting Group (ERCG) for its excellence in the retail power industry. The Houston-based electricity provider earned the number one spot in “Ease of Doing Business” and the number two spot in both “Overall Satisfaction” and “Price Competitiveness” in ERCG’s 2019 National ABC Study. Freepoint Energy’s rank in all three categories improved from the previous year, and this marks the first time in the history of ERCG’s survey that a supplier earned a Top 3 ranking in all three Excellence Award categories.

“In previous years of our study, we’ve had some suppliers capture two Excellence Awards in the same year,” noted Young Kim, Principal at ERCG. “We’ve never had a supplier hold all three Excellence Awards – it’s the ERCG Grand Slam. This unprecedented achievement proves how committed Freepoint Energy is to their ABC partners in all aspects of the business. It is this level of dedication that has fueled Freepoint Energy’s meteoric rise in our rankings, and their phenomenal growth.”

In addition to earning awards in all three excellence categories, Freepoint Energy earned the top spot for the second consecutive year for ABC volume growth. A staggering 72% of Freepoint Energy’s ABCs reported doing more volume with Freepoint in the last 12 months. Freepoint Energy rounded out its stellar performance by also earning a Top 5 score in five major operational categories including: Account Manager, Customer Supply Agreement, Direct/Indirect Conflict Policy, and Pass Through Charges.

“We are very honored to receive this recognition from ERCG,” said Jackson Vo, President of Freepoint Energy. “We remain committed to building a platform that delivers the highest levels of satisfaction for our broker partners and customers.”

Since 2014, ERCG has conducted its flagship annual study on the ABC market. In the 2019 National ABC Study, 176 ABC firms responded, representing approximately 75% of the total ABC market by volume. This was record turnout, which highlights even more the impressive accomplishment of Freepoint Energy.

Since 2017, Freepoint Energy has prioritized broker satisfaction in its guiding business principles and is committed to offering every one of its sales partners and customers exceptional service.

ABOUT FREEPOINT ENERGY

Freepoint Energy Solutions, an affiliate of Freepoint Commodities, is active as a retail electric supplier to commercial and industrial customers throughout PJM & ERCOT. For more information please visit: www.freepointsolutions.com

ABOUT ERCG

Energy Research Consulting Group (ERCG) provides business intelligence and consulting services to energy market participants on entry strategies, investment opportunities, and market & policy dynamics. For more information about ERCG’s experience, research and consulting offerings please visit: www.ercg-us.com

Contact:

Serra Saridereli
serra.saridereli@rfbinder.com
630-414-2520

Freepoint Commodities renews its Revolving Credit Facility at USD 2.565 Billion; Allows growth to USD 3.165 Billion

STAMFORD, Conn.May 5, 2020 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) today announced that it has closed a USD 2.565 billion revolving bank facility (the “Facility”).  The Facility consists of a USD 1,667,250,000 three-year committed tranche and a USD 897,750,000 one-year uncommitted tranche.  Additionally, the Facility has a USD 600 million accordion feature.

BNP Paribas Securities Corp (“BNPPSC”), MUFG Bank, Ltd. (“MUFG”) and Natixis, New York Branch (“NATIXIS”) are Joint Lead Arrangers and Bookrunners for the Facility.  Freepoint is also pleased to welcome as new Joint Lead Arrangers, ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A., New York Branch, and Société Générale.   BNP Paribas remains as the Administrative Agent.  Co-Syndication and Co-Documentation Agents include:  ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A.., New York Branch, ING Bank N.V., and Société Générale.    Other continuing participating banks include: Credit Suisse (Switzerland) Ltd.; Standard Chartered Bank; UBS Switzerland AG; Industrial and Commercial Bank of China Ltd., New York Branch; Bank of ChinaNew York Branch; Credit Agricole Corporate and Investment Bank; Deutsche Bank AG, New York Branch; Oversea-Chinese Banking Corporation Limited, New York Agency; Wells Fargo Bank, N.A. and HSBC Bank USA, N.A.

In addition, Freepoint extended the maturity of its subordinated secured credit facility in the amount of USD 100 million, and Freepoint’s immediate parent, Freepoint Commodities Holdings LLC, extended the maturity of its unsecured credit facility in the amount of USD 50 million.

“Even in these turbulent times, our flagship working capital facility was once again oversubscribed, demonstrating the ongoing strength of our financing banks’ support for our business,” said David A. Messer, Freepoint’s CEO.  “We appreciate the confidence that our lenders have in Freepoint, which allows us to continue to capture opportunities to expand and diversify our global business platforms.”

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 450 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Serra Saridereli
RF|Binder
212-994-7561
serra.saridereli@rfbinder.com

Freepoint Commodities Increases Revolving Credit Facility to USD 2.6 Billion; Allows growth to USD 3.2 Billion

STAMFORD, Conn.May 9, 2019 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) today announced that it has closed a USD 2.6 billion revolving bank facility (the “Facility”), an increase of 24% from the facility it closed a year ago.  The Facility consists of a USD 1.69 billion, three year committed tranche and a USD 910 million, one year uncommitted tranche. In addition, the Facility has a USD 600 million accordion feature.

BNP Paribas Securities Corp (“BNPPSC”), MUFG Bank, Ltd. (“MUFG”) and Natixis, New York Branch (“NATIXIS”) are Joint Lead Arrangers and Bookrunners for the Facility.  BNP Paribas remains as the Administrative Agent.  Co-Syndication and Co-Documentation Agents include:  ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A., New York Branch, ING Bank N.V., and Société Générale.  Other continuing participating banks include:  Bank of ChinaNew York Branch; 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; Oversea-Chinese Banking Corporation Limited, New York Agency; Standard Chartered Bank and UBS Switzerland AG.  DBS Bank, Ltd., HSBC Bank USA, N.A and Wells Fargo Bank, N.A have joined as new participants.  The Facility finances the physical merchant activities of Freepoint’s global commodities businesses, which continue to demonstrate solid growth.

“We’ve built strong, ongoing relationships with our existing lenders, and welcome the addition of three new participants, DBS Bank, HSBC Bank, and Wells Fargo Bank, to the Facility,” said David A. Messer, Freepoint’s CEO. “This year, the Facility was oversubscribed by 32%, reflecting our lenders’ ongoing commitment to the sustained success of our business, which continues to grow and diversify.  We’re grateful for their support and look forward to continuing our partnerships with our financing banks.”

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 435 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Serra Saridereli
RF|Binder
212-994-7561
serra.saridereli@rfbinder.com

Freepoint Energy Solutions Announces Launch of its Texas C&I business

HOUSTONJune 28, 2018 /PRNewswire/ — Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”) announced that as of July 1, 2018, it will be providing electricity commodity supply to commercial and industrial (“C&I”) customers in Texas.  Freepoint Energy Solutions will be active in the following markets: CenterPoint Energy Houston Electric, Oncor, AEP Texas Central, AEP Texas North and Texas-New Mexico Power.

Expanding on its rapidly growing PJM business, Freepoint Energy Solutions will offer a variety of products in Texas, specifically tailored to its C&I customers’ needs.

“We are excited to enter into ERCOT as we look to build on the successes we are having in PJM,” said Jackson Vo, President, Freepoint Energy Solutions.  “This is an important next step towards serving an even greater amount of customers across all deregulated markets.”

Freepoint Energy Solutions, an affiliate of Freepoint Commodities, currently supplies commercial and industrial customers in IllinoisPennsylvaniaOhioMarylandNew JerseyDelaware, and the District of Columbia.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 425 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Davis MacMillan
RF|Binder 
+1 212 994 7509
davis.macmillan@rfbinder.com

Freepoint Energy Solutions to Commence Operations

STAMFORD, Conn.May 1, 2017 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) announced today that its retail energy supply subsidiary, Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”), has commenced operations.  Rollout of the business will begin in IllinoisOhio, and Pennsylvania with the remainder of the PJM energy market going live over the next few months. Freepoint Energy Solutions plans to enter ERCOT, NYISO and ISO-NE energy markets in a phased approach over the next 12 months, and will ultimately service all deregulated power markets throughout the United States.

Freepoint Energy Solutions offers cost-efficient, reliable energy services to commercial and industrial end-use customers while leveraging Freepoint’s expertise in the wholesale energy markets.

“We are thrilled to begin our rollout of Freepoint Energy Solutions to our commercial and industrial customers,” said Bradley Quester, President of Freepoint Energy Solutions. “Our world-class resources and our expertise in both wholesale and retail uniquely position us to offer competitive pricing and custom energy solutions designed to meet the specific needs of our customers.”

The Freepoint management team, having previously built and run RBS Sempra Commodities, has over 30 years of experience in the energy sector, including both managing and supplying energy to commercial and industrial businesses.

In addition to Freepoint’s wholesale platform and expertise, the firm will leverage its financial resources – which include a $2.1 billion credit facility – to deliver a superior experience for retail energy customers.  Freepoint is majority-owned by private equity funds managed by Stone Point Capital, a fund manager that has raised more than $13 billion for investment.

“Given our experience building the wholesale platform at Freepoint and previously building one of the largest energy retailers in North America, Freepoint Energy Solutions is a logical next step in the strategic growth of our power and natural gas business,” said David Messer, CEO of Freepoint. “By hiring the best talent and continuously investing in technology, we’ve remained committed to serving the best interests of our end-user customers.”

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 370 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact

Audrey Belloff
RF|Binder 
+1 212 994 7547 
audrey.belloff@rfbinder.com

Freepoint Commodities Extends Revolving Credit Facility and Upsizes to USD 2.1 Billion; Allows growth to USD 2.4 Billion

STAMFORD, Conn.April 24, 2017 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) today announced that it has closed a USD 2.1 billion revolving bank facility (the “Facility”).  The Facility has been extended for another three-year term, to April 2020, and consists of a USD 1.445 billion three year committed tranche and a USD 655 million one year uncommitted tranche.  In addition, the Facility has a USD 300 million accordion feature.

BNP Paribas Securities Corp (“BNPPSC”), The Bank of Tokyo-Mitsubishi UFG, Ltd. (“MUFG”) and Natixis, New York Branch are Joint Lead Arrangers for the Facility.  BNPPSC and MUFG are also Joint Bookrunners.  BNP Paribas remains as the Administrative Agent.  Co-Syndication and Co-Documentation Agents include:  ING Bank N.V., Natixis, New York branch, Societe Generale and Coöperatieve Rabobank U.A., 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 ChinaNew YorkBranch, Industrial and Commercial Bank of China Ltd., New York Branch and Standard Chartered Bank have joined as new participants.  The Facility finances the physical merchant activities of Freepoint’s expanding global commodities businesses.

“We truly appreciate the strong relationships we have with our existing bank group and welcome the addition of three new participants to the Facility:  Bank of China, ICBC and Standard Chartered Bank.  Our lenders have demonstrated their sustained commitment to supporting Freepoint’s ongoing expansion throughout this amendment and extension process,” said CEO David A. Messer.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 370 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.

Media Contact   
Audrey Belloff
RF|Binder 
+1 212 994 7547   
audrey.belloff@rfbinder.com

Freepoint Commodities Announces Launch of Retail Energy Supplier: Freepoint Energy Solutions

STAMFORD, Conn.Aug. 9, 2016 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) announced today that it has launched Freepoint Energy Solutions LLC (“Freepoint Energy Solutions”), a competitive retail energy supplier that will focus on meeting the energy needs of commercial and industrial customers. The new company will enable Freepoint to offer C&I customers cost-efficient, reliable power and gas solutions while leveraging Freepoint’s expertise in the wholesale energy markets and allowing it to expand its overall customer base.

Freepoint’s management team, which previously ran Sempra Energy Trading and RBS Sempra Commodities, has decades of experience both managing and supplying energy to businesses in the retail energy supply space. Members of the team were involved in the growth and success of a number of competitive energy suppliers, including Sempra Energy Solutions.

Freepoint has hired Bradley Quester to serve as President of Freepoint Energy Solutions and lead the growth of the new business.   An industry veteran, Quester has years of experience in previous leadership roles at competitive energy suppliers, including Constellation Energy, Direct Energy and, most recently, Guttman Energy.

“This is an exciting milestone for Freepoint.  Our team is eager to leverage its deep experience and reputation for reliability in energy supply.  We plan to offer competitive and creative solutions and look forward to serving the needs of our customers,” said Quester.

“Given our management’s history, this really feels like a re-launch of the retail energy business at Freepoint,” said David Messer, CEO of Freepoint.  “We are confident that Brad and his team will be able to capitalize on our platform and team’s talent to ultimately achieve a best-in-class offering for Freepoint’s new customers.”

Freepoint Energy Solutions will operate out of Freepoint’s offices in Houston, TX and Stamford, CT and plans to commence operations in most deregulated energy markets in the coming months.

More information about Freepoint Energy Solutions can be found at www.freepointsolutions.com.

About Freepoint Commodities LLC
Founded in 2011, Freepoint is based in Stamford, CT with over 300 employees worldwide.  Freepoint is a merchant of physical commodities and a financer of upper and mid-stream commodity-producing assets.  Freepoint also provides physical supply services and related structured solutions for counterparties.  Freepoint is owned by private equity funds managed by Stone Point Capital, members of Freepoint’s management and senior employees.  More information about Freepoint can be found at http://www.freepoint.com.

Contact 
Jacquelyn Wilder
RF|Binder 
+1 212 994 7543
jacquelyn.wilder@rfbinder.com