Castleton Commodities gets $850 million three-year facility tranche

By Tali David

Minneapolis, June 25 - Castleton Commodities International LLC announced the closing of an $850 million three-year tranche of its senior secured working capital facility, according to a press release.

This transaction was structured as an amendment to the current dual tranche facility dated Oct. 27, 2010.

The facility is comprised of the new $850 million three-year tranche as well as the original $750 million five-year tranche for a total commitment of $1.6 billion and will be used to fund general working capital needs and other corporate purposes.

The facility renewal will extend the expiring October 2013 maturity to June 2016, the release said.

BNP Paribas, Credit Agricole Corporate and Investment Bank, Societe Generale, Standard Chartered Bank and Bank of Tokyo-Mitsubishi UFJ, Ltd. were the joint arrangers. BNP Paribas is the administrative agent.

Castleton Commodities, formerly Louis Dreyfus Highbridge Energy, is a Stamford, Conn.-based diversified merchant energy company.

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