November 09, 2015
Cadwalader, Wickersham & Taft LLP, a leading international law firm to global corporations and financial institutions, advised BNP Paribas, as global coordinator, sole underwriter and administrative agent, in connection with a $3.5 billion committed senior secured working capital credit facility to Castleton Commodities international, LLC, a global commodities merchant, in connection with Castleton’s acquisition of Morgan Stanley’s Global Oil Merchanting business, one of the world’s leading physical oil and products franchises. The acquisition was completed on November 1, 2015.
The financing arranged by BNP Paribas for Castleton’s transformative transaction included an innovative “funds certain” committed accordion governed by an asset-based lending structure.
The Cadwalader Finance team was led by partner Jeff Nagle and included partner Chris McDermott and associates Stephen Johnson, Michael Lynch, Daniel Patterson and Matthew Stempler. The team also included Capital Markets partners Angus Duncan and Nick Shiren; Corporate partner Aly El Hamamsy; Tax partner Adam Blakemore and associates Janicelynn Asamoto, Catherine Richardson and Jason Schwartz; Energy special counsel Adam Topping; ERISA special counsel Shane Stroud; and Financial Restructuring associate Celine Chan.