Castleton Commodities International LLC announced  the closing of a $2.4 billion committed borrowing base facility.  The Facility consists of a $750 million 3-year tranche, a $1.15 billion 2-year tranche and a $500 million 364-day tranche.  The Facility also includes a $1.0 billion accordion which remains available to support future growth.

The proceeds will refinance CCI's existing borrowing base facility signed in July 2019, fund general corporate purposes and provide letters of credit for the Company's merchanting activities globally.

"The successful renewal of our borrowing base facility demonstrates the continued support of our banking partners despite the challenging market environment," said Dan Hines, Chief Financial Officer of CCI.  "We are pleased that our facility was once again oversubscribed with CCI receiving nearly $3 billion in total commitments from a group of over 20 banks." 

BNP Paribas, ABN AMRO Capital USA LLC, MUFG Bank, Ltd., 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.  ING Capital LLC acted as Senior Managing Agent for the Facility.  CCI is also pleased to welcome Credit Suisse (Switzerland) Ltd. and Wells Fargo Bank, N.A. as Senior Managing Agents in the Facility this year.  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.