Commodities announced it closed a $1.3 billion revolving bank facility on May 22, 2015. The facility has a $1 billion three-year committed component, as well as a $300 million one-year uncommitted portion, which renews annually. The deal was oversubscribed and increased Freepoint’s expiring $1 billion committed facility.

BNP Paribas and MUFG are joint lead arrangers and joint bookrunners for the new facility. BNP Paribas remains as the administrative agent. Co-syndication and co-documentation agents include: Cooperatieve Central Raiffeisen-Boerenleenbank, Rabobank Nederland, New York branch; ING Bank; ABN AMRO Capital USA; Natixis, New York branch; and Societe Generale, New York branch. Other participating banks include Credit Suisse (Zurich), Deutsche Bank (NY branch), RB International Finance (USA), and a new participant, Commonwealth Bank of Australia (NY branch). The credit facility finances the physical merchant activities of Freepoint’s expanding global commodities businesses.

“We are extremely pleased with the support of our lender group and welcome the addition of Commonwealth Bank of Australia to the facility. Freepoint is committed to continued growth and diversification throughout the global commodities markets and this multi-year committed revolver will help us achieve those objectives,” said CEO David A. Messer.

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