STAMFORD, Conn. – June 22, 2021 - Castleton Commodities International LLC (CCI) announced today that it closed on a $1.7 billion borrowing base facility. The facility consists of a $100 million 3-year tranche; a $1.25 billion 2-year tranche; and a $350 million 364-day tranche. The facility also includes a $1 billion accordion, which remains available to support future growth.
The proceeds will refinance CCI’s existing borrowing base facility signed in June 2020, fund general corporate purposes and provide letters of credit for the company’s merchanting activities globally.
“We have successfully renewed our global borrowing base facility, which was once again oversubscribed,” said CCI’s Chief Financial Officer, Rick Dolcetti. “We value the deep relationships we have established with our banking partners, who continue to support CCI’s well-established global businesses.”
BNP Paribas; MUFG; Societe Generale; Citibank N.A.; Coöperatieve Rabobank U.A., New York branch; Credit Agricole Corporate and Investment Bank; and Natixis, New York branch, served as joint lead arrangers and joint bookrunners for the facility.
Credit Suisse (Switzerland) Ltd., ING Capital LLC and Wells Fargo Bank N.A. acted as senior managing agents in the facility. BNP Paribas served as global coordinator and administrative agent for the facility.
Cadwalader, Wickersham & Taft LLP served as counsel to the lenders. Stroock & Stroock & Lavan LLP served as counsel to the borrower.
About Castleton Commodities International LLC
CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation and development of commodities-related infrastructure and upstream assets. Please visit our website for more information: www.cci.com.
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June 22, 2021