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

PR Newswire April 24, 2017

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 China, New 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