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Castleton Commodities Closes Credit Facilities Totaling $ 3.6 Billion

June 12,2017

Castleton Commodities International LLC announced the closing of two credit facilities totaling $3.6 billion.

The facilities include a committed senior secured working capital facility and a committed unsecured revolving credit facility. The senior secured facility is comprised of a $1.25 billion 3-year tranche and a $2.0 billion 364-day tranche. The unsecured facility is comprised of a single $350 million 364-day tranche.

Castleton said that both facilities were significantly oversubscribed, with CCI receiving over $4.9 billion of commitments in total.

The proceeds will refinance CCI’s existing $3.3 billion senior secured facility and $300 million unsecured facility signed in June 2016, fund general corporate purposes and provide letters of credit for the company’s merchanting activities in multiple countries. The senior secured facility features a $1.0 billion accordion which remains available to support future growth.

BNP Paribas Securities Corp, Societe Generale, MUFG, ABN AMRO Capital USA LLC, Citigroup Global Markets Inc., Coöperatieve Rabobank U.A., New York Branch, Natixis, New York Branch and Credit Agricole Corporate and Investment Bank acted as Joint Lead Arrangers and Joint Bookrunners for the facilities, with BNP Paribas serving as Global Coordinator and Administrative Agent for the senior secured facility and Citibank, N.A. serving as Administrative Agent for the unsecured facility.

Castleton Commodities   Finance  

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