Six One Commodities Successfully Extends and Renews Revolving Credit Facility

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STAMFORD, Connecticut – (COMMERCIAL THREAD) – Six One Commodities LLC (“61C”) today announced that it has successfully entered into a $ 540 million one-year revolving core credit facility (the “Facility”). The Facility was significantly oversubscribed with an initial launch of $ 450 million, including commitments received from a globally diverse group of six European, North American and Asian financial institutions.

The facility increases the current revolving credit facility by $ 315 million and has a $ 60 million accordion feature available to support future growth.

ING Capital LLC, Wells Fargo Bank, NA and MUFG Bank, Ltd., are the principal co-arrangers of the Facility. Other banks joining the facility are HSBC Bank USA NA, Société Générale and Coöperative Rabobank UA. The facility will continue to be used to provide liquidity to the growing business of 61C.

“We appreciate the strong support shown by our existing lenders, as well as the four new banks that have contributed to our credit facility. The facility’s oversubscription is a testament to the markets’ confidence in our portfolio, our business model, our disciplined operations and our growth strategy, ”said Benjamin Sutton, CEO of 61C. “The extended credit facility, coupled with the continued commitment of Pinnacle Asset Management, positions 61C for continued global growth and expansion as a leading trader in the physical energy commodities markets for years to come. ”

“With the energy markets in a consistently high state, access to liquidity is increasingly important and the lifeblood of a physical commodity trader. We appreciate the opportunity to lead this transaction and look forward to further expanding our relationship with Six One Commodities globally, ”said Matthew Rosetti, Managing Director, responsible for North America commodities trading and finance. for ING. “Six One is now well positioned to expand its presence in the North American market and we were delighted to see their operational capabilities and growth potential validated by the very strong demand from our union partners. ”

ABOUT SIX ONE COMMODITIES LLC

61C is a global trader of physical energy products and provides physical supply structures and services. Formed in 2018, 61C is backed by Pinnacle Asset Management and is headquartered in Stamford, Connecticut, with offices in Houston, Singapore and Berlin with more than 50 employees worldwide. The 61C team has a proven track record of unique market insight, strong client relationships, solid returns and disciplined risk management to exploit opportunities in the energy trading space.

ABOUT PINNACLE ASSET MANAGEMENT, SEC

Founded in 2003, Pinnacle Asset Management, LP is a private New York-based alternative asset management firm focused on global commodities markets with approximately $ 4 billion under management. Pinnacle provides its institutional investor base with exposure to global commodities markets through physical and financial funds, strategies and absolute return products. Pinnacle is registered as an Investment Advisor with the Securities and Exchange Commission, is registered as a Commodity Trading Advisor and Commodity Pool Operator with the Commodity Futures Trading Commission, and is a member of the National Futures Association .


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