Tennenbaum Capital Partners and Natixis Act as Joint Lead Arranger in Freepoint Commodities Debut Facility
Natixis announced that Freepoint Commodities LLC (“Freepoint”), a global physical commodity merchant established in 2011 and headquartered in Stamford, CT, has closed on a USD 75 million 5-year Subordinated Second Lien Debt Facility.
Natixis, New York Branch and Tennenbaum Capital Partners are Joint Lead Arrangers and Bookrunners for the facility. The credit facility is secured by a second lien on all US and Canadian assets of the loan parties that secure the first lien credit facility. The proceeds of the facility will be used to fund the continued growth of Freepoint’s merchant trading and logistics business.
This transaction is a first for a physical commodity merchant and will help Freepoint optimize its capital structure.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 36 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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