Freepoint Commodities Extends Facility and Upsizes to USD 1.45 Billion; Can Grow to $2 Billion

STAMFORD, Conn., May 17, 2016 /PRNewswire/ -- Freepoint Commodities LLC ("Freepoint") today announced that it closed a $1.45 billion revolving bank facility.  The facility's $1 billion three-year committed tranche was extended through May 2019, and the one year uncommitted tranche was upsized to $450 million from $300 million.  In addition, the facility has a $550 million accordion feature.

BNP Paribas and MUFG are Joint Lead Arrangers and Joint Bookrunners for the facility.  BNP Paribas remains as the Administrative Agent.  Co-Syndication Agents include:  ING Bank N.V., Natixis (New York branch) and Societe Generale. Co-Documentation Agents include:  Coöperatieve Central Raiffeisen-Boerenleenbank B.A. "Rabobank Nederland" (New York branch), ING Bank N.V., Natixis (New York branch) and Societe Generale.  Other continuing participating banks include:  ABN AMRO Capital USA LLC, Commonwealth Bank of Australia, Credit Suisse (Zurich), Deutsche Bank (New York branch). Credit Agricole Corporate and Investment Bank and UBS Switzerland AG have joined as new participants.  The credit facility finances the physical merchant activities of Freepoint's expanding global commodities businesses.

"We are pleased with the upsize of our credit facility and the ongoing commitment of our lenders.  We welcome the addition of two new participants to the facility, Credit Agricole and UBS.  These changes provide the financial flexibility we need to allow us to continue to grow and diversify our business," said CEO David A. Messer.

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 290 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

Jacquelyn Wilder
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+1 212 994 7543
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SOURCE Freepoint Commodities LLC