7 July 2017

Castleton closes credit facilities totaling USD 3.6 Billion



Castleton Commodities International LLC (CCI), a global commodities merchant, closed two credit facilities totaling USD 3.6 billion. The facilities include a committed senior secured working capital facility and a committed unsecured revolving credit facility. The senior secured facility is comprised of a USD 1.25 billion 3-year tranche and a USD 2.0 billion 364-day tranche. The unsecured facility is comprised of a single USD 350 million 364-day tranche. The proceeds will refinance CCI’s existing USD 3.0 billion senior secured facility and USD 300 million unsecured facility signed in June 2016, fund general corporate purposes and provide letters of credit for the company’s merchanting activities in multiple countries. The senior secured facility features a USD 1.0 billion accordion which remains available to support future growth.

Walder Wyss advised CCI on all Swiss law related aspects of the financing. The Walder Wyss team was led by Alexandre Both (Counsel, Banking & Finance) and Luc Defferrard (Partner, Banking & Finance) and included Maurus Winzap (Partner, Tax) and Anna Baldenbach von Bröchen (Associate, Banking & Finance).

News

News

7 July 2017

Castleton closes credit facilities totaling USD 3.6 Billion

Castleton Commodities International LLC (CCI), a global commodities merchant, closed two credit facilities totaling USD 3.6 billion. The facilities include a committed senior secured working capital facility and a committed unsecured revolving credit facility. The senior secured facility is comprised of a USD 1.25 billion 3-year tranche and a USD 2.0 billion 364-day tranche. The unsecured facility is comprised of a single USD 350 million 364-day tranche. The proceeds will refinance CCI’s existing USD 3.0 billion senior secured facility and USD 300 million unsecured facility signed in June 2016, fund general corporate purposes and provide letters of credit for the company’s merchanting activities in multiple countries. The senior secured facility features a USD 1.0 billion accordion which remains available to support future growth.

Walder Wyss advised CCI on all Swiss law related aspects of the financing. The Walder Wyss team was led by Alexandre Both (Counsel, Banking & Finance) and Luc Defferrard (Partner, Banking & Finance) and included Maurus Winzap (Partner, Tax) and Anna Baldenbach von Bröchen (Associate, Banking & Finance).