STAMFORD, Conn. – June 13, 2022 - Castleton Commodities International LLC (CCI) announced today it has closed a $2.2 billion borrowing base facility consisting of a $1 billion 1.5-year tranche and a $1.2 billion 2-year tranche. The facility also includes a $1 billion accordion, which remains available to support future liquidity needs and growth. A diverse group of 17 banks from eight countries participated in the facility.
We are extremely pleased with the successful renewal of our multi-currency global borrowing base facility,” said CCI’s Chief Financial Officer Rick Dolcetti. “The facility was once again oversubscribed with CCI receiving over $2.8 billion in total commitments. We appreciate the sustained support from our deep banking relationships which demonstrates confidence in CCI’s well-established global businesses.
BNP Paribas; MUFG Bank Ltd.; Société Générale; Citibank N.A.; Coöperatieve Rabobank U.A., New York branch; Credit Agricole Corporate and Investment Bank; ING Capital LLC; Natixis, New York branch; and Wells Fargo Bank N.A served as joint lead arrangers and joint bookrunners for the facility.
Credit Suisse (Switzerland) Ltd. and Industrial and Commercial Bank of China Limited, New York Branch, acted as senior managing agents in the facility. An additional six banks also participated at various commitment levels. 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 assets. Please visit our website for more information: www.cci.com.