Physical commodity trading and marketing company Freepoint Commodities has inked a credit facility worth $500 million. The company has structured the loan as a three-year committed borrowing base facility.
The credit facility, which will be utilized to assist Freepoint Commodities’ physical trading activities, will be led and arranged by BNP Paribas. Rabobank, Natixis, ABN Amro, Credit Agricole, DZ Bank and Raiffeisen Bank International, among others, also committed to the facility. Freepoint was founded by David Messer, Frank Gallipoli and Robert Feilbogen, former Sempra Energy Trading executives, with more than $300 million in committed equity capital.
Click here for the release from PR Newswire.