Cadwalader Guides Renewal of $2.1 Billion Credit Facilities for Castleton Commodities International

"Cadwalader LLP represented the lenders in the renewal of two credit facilities for Castleton Commodities International LLC totaling over $2.1 billion, including a $1.9 billion secured borrowing base (one- and two-year tranches with up to $1 billion accordion) and a $210 million one-year unsecured revolver. A syndicate of 17 banks across nine countries participated; facilities were oversubscribed."

Cadwalader LLP represented the lenders in the renewal of credit facilities for Castleton Commodities International LLC. The transaction closed on November 18 and comprises two facilities totaling in excess of $2.1 billion for CCI, a global energy commodity merchant. The principal facility is a $1.9 billion secured borrowing base, structured as an $800 million one-year tranche and a $1.1 billion two-year tranche, and includes an accordion feature enabling up to an additional $1 billion to support CCI’s liquidity needs and future growth. The second facility is a $210 million one-year committed unsecured revolving credit facility. A diverse syndicate of 17 banks from nine countries participated in the facilities. The financing was oversubscribed, with more than $2.5 billion in total commitments and participation submitted for the transaction. Cadwalader LLP represented the lenders with a team composed by: partner Jeff Nagle and special counsel Mike Lynch in Charlotte, supported by associates William Harris and Joseph Mascherin; and partner Matt Smith, senior attorney Nicholas Diamond-Krendel and associate Michael El Gawly.

Cadwalader Guides Renewal of $2.1 Billion Credit Facilities for Castleton Commodities International

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads