Freepoint Commodities closed a $2.63 billion revolving bank facility. The facility consists of a $1.57 billion, three-year committed tranche and a $1.05 billion, one-year uncommitted tranche. Additionally, the facility has a $570 million accordion feature.
BNP Paribas Securities, MUFG Bank and Natixis are joint lead arrangers and bookrunners for the facility. Coöperatieve Rabobank, Société Générale and Wells Fargo Bank are joint lead arrangers. BNP Paribas remains as the administrative agent. The co-syndication and co-documentation agents are Coöperatieve Rabobank, ING Bank, Société Générale and Wells Fargo Bank. The other continuing participating banks are Credit Suisse, UBS Switzerland AG, Industrial and Commercial Bank of China, Bank of China, Credit Agricole Corporate and Investment Bank, Deutsche Bank AG, Oversea-Chinese Banking Corporation, Commonwealth Bank of Australia, HSBC Bank USA, Mizuho Bank and Sumitomo Mitsui Banking Corporation.
Simultaneously, Freepoint extended the maturity of its subordinated secured facility and increased the facility size to $125 million.
“We are extremely appreciative of the longstanding support and loyalty of our lender group,” David A. Messer, CEO of Freepoint, said. “Our refinancing was once again over-subscribed, demonstrating our lenders’ ongoing commitment to our business as we continue to grow our global platform.”