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Freepoint Commodities Renews Its Revolving Credit Facility at USD 2.63 Billion; Allows Growth to USD 3.23 Billion

PR Newswire May 3, 2021

STAMFORD, Conn., May 3, 2021 /PRNewswire/ — Freepoint Commodities LLC (“Freepoint”) today announced that it has closed a USD 2.63 billion revolving bank facility (the “Facility”).  The Facility consists of a USD 1,709,500,000 three-year committed tranche and a USD 920,500,000 one-year uncommitted tranche.  Additionally, the Facility has a USD 600 million accordion feature.

BNP Paribas Securities Corp (“BNPPSC”), MUFG Bank, Ltd. (“MUFG”) and Natixis, New York Branch (“NATIXIS”) are Joint Lead Arrangers and Bookrunners for the Facility.  Freepoint is pleased to welcome as new Joint Lead Arranger, Wells Fargo Bank, N.A., who will join Coöperatieve Rabobank U.A., New York Branch, and Société Générale in this capacity.  BNP Paribas remains as the Administrative Agent.  Co-Syndication and Co-Documentation Agents include:  Coöperatieve Rabobank U.A.., New York Branch, ING Bank N.V., Société Générale and Wells Fargo Bank, N.A. Other continuing participating banks include: 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 and HSBC Bank USA, N.A.  In addition, Freepoint is delighted to announce that Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation have joined the bank group for the revolving credit facility.

Simultaneously, Freepoint also extended the maturity of its USD 100 million subordinated secured credit facility, and Freepoint’s immediate parent, Freepoint Commodities Holdings LLC, extended the maturity of its USD 30 million unsecured credit facility.

“Our flagship working capital facility once again was oversubscribed as Freepoint received $2.915 Billion in commitments.  This not only demonstrates the ongoing support of our existing banks, but also our ability to attract new banks.  This is a testament to our continued strong performance over the past several years,” said David A. Messer, Freepoint’s CEO.  “We appreciate our lenders’ sustained commitment to Freepoint, which is a clear indication of their confidence in our business model, disciplined operating philosophy and growth opportunities.”

About Freepoint

Founded in 2011, Freepoint is based in Stamford, CT with over 500 employees worldwide.  Freepoint is a global merchant of physical commodities and also provides physical supply services and related structured solutions.

Media Contact

Paige Thornton
RF|Binder
212-994-7554
paige.thornton@rfbinder.com

SOURCE Freepoint Commodities LLC