New York – Global law firm Hogan Lovells advised Castleton Commodities International LLC (CCI) as it announces the successful renewal of two credit facilities totaling more than US$2.1 billion.
CCI is a global energy commodity merchant with integrated businesses focused on marketing, merchandising, and trading commodities, and the ownership, operation, and development of commodities-related infrastructure assets.
The facilities include a US$1.9 billion secured borrowing base facility, consisting of a US$800 million one-year tranche and a US$1.1 billion two-year tranche. The secured facility also features an accordion option of up to US$1 billion, providing additional liquidity to support CCI’s continued growth. In addition, CCI renewed a US$210 million one-year committed unsecured revolving credit facility. The facilities were oversubscribed, with commitments exceeding US$2.5 billion from a syndicate of 17 banks across nine countries.
More information on the transaction can be found here.
The Hogan Lovells New York-based deal team was led by partner Chris Doyle (M&A), senior associate Lauren Kimmel (Capital Markets), law clerk Ana Laura Pongeluppi (Capital Markets), and assisted by partners Marvin Goldstein (IERP) and Matt Schernecke (Banking & Loan Finance).
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