(MENAFN- PR Newswire)
STAMFORD, Conn., June 6, 2024 /PRNewswire/ -- Freepoint commodities LLC ("Freepoint") today announced that it closed a USD 2.5 billion revolving bank facility (the "Facility"). The Facility consists of a USD 1,500,000,000 three-year committed tranche and a USD 1,000,000,000 one-year uncommitted tranche. Additionally, the Facility has a USD 700 million accordion feature.
MUFG Bank, Ltd. and Natixis, New York Branch are Joint Lead Arrangers and Joint Bookrunners for the Facility. Coöperatieve Rabobank U.A., New York Branch, Société Générale and Wells Fargo Bank, N.A., are Joint Lead Arrangers. MUFG Bank, Ltd. is the Administrative Agent. The Co-Syndication and Co-Documentation Agents are
Coöperatieve Rabobank U.A., New York Branch, Société Générale, Wells Fargo Bank, N.A, ING Bank N.V. and UBS Switzerland AG. The other continuing participating banks are Industrial and Commercial Bank of China Ltd., New York Branch; Bank of China, New York Branch; Credit
Agricole Corporate and Investment Bank; Deutsche Bank AG, New York Branch; Oversea-Chinese Banking Corporation Limited, New York Agency; Commonwealth Bank of Australia; HSBC Bank USA, N.A.; HSBC UK Bank plc; Mizuho Bank, Ltd.; Sumitomo Mitsui Banking Corporation; and Garantibank International N.V. In addition,
Freepoint is pleased to announce that Citibank, N.A., London Branch has joined the bank group as a new participant in the Facility.
Simultaneously,
Freepoint extended the maturity of its USD 125 million subordinated secured credit facility. The participating banks in this facility are MUFG Bank, Ltd., Natixis, New York Branch, Cooperatieve Rabobank U.A., New York Branch, Societe Generale and UBS Switzerland AG.
"Our lender group has shown their unwavering commitment to
Freepoint by once again over-subscribing for the refinancing of our facility," said David A. Messer, Freepoint's CEO. "Freepoint values the strong relationships we have with our lenders, and we welcome the addition of Citibank N.A., London branch to the Facility."
About
Freepoint
Founded in 2011, Freepoint is based in Stamford, CT with over 600 employees worldwide. Freepoint is a global commodities merchant of physical commodities providing customers with physical supply and logistics chain management and services, together with eco-friendly products and solutions.
Media Contact
Kelly Logan
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212-994-7536
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SOURCE Freepoint Commodities LLC
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