Castleton Commodities International LLC Closes Credit Facilities Totaling $3.525 Billion

Castleton Commodities International LLC (“CCI” or “the Company”) announced today the closing of two credit facilities totaling $3.525 billion.

The facilities include a committed borrowing base facility and a committed revolving credit facility. The borrowing base facility is comprised of a $1.15 billion 3-year tranche and a $2.0 billion 364-day tranche. The revolving credit facility is comprised of a single $375 million 364-day tranche.

Both facilities were significantly oversubscribed, with CCI receiving nearly $5.0 billion of commitments in total. A diverse group of 25 banks from 12 countries participated in the facilities.

The proceeds will refinance CCI’s existing $3.25 billion borrowing base facility and $350 million revolving credit facility signed in June 2017, fund general corporate purposes and provide letters of credit for the Company’s merchanting activities in multiple countries. The borrowing base facility features a $1.0 billion accordion which remains available to support future growth.

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BNP Paribas, SocieteGenerale, MUFG, ABN AMRO Capital USA LLC, Citigroup Global Markets Inc., Coöperatieve Rabobank U.A., Natixis, New York Branch and Credit Agricole Corporate and Investment Bank acted as Joint Lead Arrangers and Joint Bookrunners and ING Bank NV and Standard Chartered Bank acted as Senior Managing Agents for the facilities. BNP Paribas served as Global Coordinator and Administrative Agent for the borrowing base facility and Citibank, N.A. served as Administrative Agent for the revolving credit facility.

Cadwalader Wickersham & Taft LLP served as counsel to the lenders. Stroock&Stroock&Lavan LLP served as counsel to the borrower.

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