Freepoint Commodities Announces Renewal of Its Revolving Credit Facility at USD 2.5 Billion; Allows Growth to USD 3.2 Billion.

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Jun 08, 2023, 16:11 ET

STAMFORD, Conn., June 8, 2023 /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, ING BANK N.V., Société Générale and Wells Fargo Bank, N.A. The other continuing participating banks are Credit Suisse (Switzerland) Ltd.; UBS Switzerland AG; 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.; Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation. In addition, Freepoint is pleased to announce that HSBC UK Bank plc and Garantibank International N.V. have joined the bank group as new participants in the Facility.

Simultaneously, Freepoint extended the maturity of its USD 125 million subordinated secured credit facility.

"We are deeply appreciative for the longstanding support and loyalty of our banking group and welcome the new participating banks, HSBC UK Bank plc and Garanatibank International N.V. Freepoint's lenders have demonstrated their ongoing commitment to the growth of our business by once again over-subscribing for our refinancing," said David A. Messer, Freepoint's CEO.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 575 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

Paige Thornton
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SOURCE Freepoint Commodities LLC