Six One Commodities Successfully Expands and Renews Revolving Credit Facility

STAMFORD, Conn.--(BUSINESS WIRE)--Six One Commodities LLC (“61C”) today announced that it has successfully closed a $745 million, one-year revolving borrowing base credit facility (the “Facility”). The Facility was expanded fro $540 million by its existing financial institutions, a globally diverse group of six European, North American, and Asia financial institutions. The Facility has a $255 million accordion feature available for a total of $1 billion to support futur growth.

ING Capital LLC, Wells Fargo Bank, N.A., MUFG Bank, Ltd., and Société Générale are Joint Lead Arrangers for the Facility. Other lenders in the facility are HSBC Bank USA NA and Coöperative Rabobank U.A. The Facility will continue to be used to provide liquidity for 61C’s growing physical business.

“We are grateful for the strong support shown by our new and existing lenders,” said Josh Bailey, Chief Financial Officer of 61C. “Their commitment, particularly within a tight credit market, is testament to 61C's robust financial management and strategic vision. This refinancing not only provides the liquidity needed for our growing physical business but also fortifies our capability to explore future growth avenues efficiently

ING is delighted to have played a leading role in this landmark financing for 61C,” said Cauê Todeschini, Head of Trade Commodity Finance, Americas for ING Capital LLC. “The positive market reception and significant oversubscription underscore the confidence lenders place in 61C’s leadership, growth prospects, and strategic direction.

61C is a global merchant of physical energy commodities and provides physical supply services and structures. Formed in 2018, 61C is backed by Pinnacle Asset Management, and headquartered in Stamford, CT with offices in Houston and Singapore. The 61C team has a demonstrated track record of unique market insight, strong client relationships, robust returns, and disciplined risk management to execute opportunities within the energy merchanting space.

Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $6 billion under management. Pinnacle provides its institutional investor base with exposure to the global commodities markets via physical and financial absolute return funds, strategies, and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, is registered as a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission and is a member of the National Futures Association.