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May 2021

Stroock Spotlight

A Stroock team led by Marvin Goldstein, Christopher Doyle and Richard Fried advised Freepoint Commodities LLC in closing a revolving bank facility valued at $2.63 billion. The facility consists of a $1,709,500,000 three-year committed tranche and a $920,500,000 one-year uncommitted tranche.  Additionally, the facility has a $600 million accordion feature.  Stroock also represented Freepoint in the extension of the maturity of its $100 million subordinated secured credit facility and Freepoint's immediate parent, Freepoint Commodities Holdings LLC, in the extension of the maturity of its $30 million unsecured credit facility.  Freepoint is a Stamford, Connecticut-based physical commodity merchant and financer of upper and mid-stream commodity-producing assets.