Six One Commodities Closes $800 Million Global Borrowing Base Facility

STAMFORD, Conn.--(BUSINESS WIRE)--Six One Commodities Global LLC (“61C”), an energy merchant backed by Pinnacle Asset Management, L.P. (“Pinnacle”), today announced the successful closing of an $800 million, two-year global borrowing base facility (the “Facility”) to support the company’s integrated global merchant operations. The Facility was significantly oversubscribed and includes a $300 million accordion feature, increasing total capital available to $1.1 billion. A diverse group of 12 banks across North America, Europe, and Asia participated in the Facility, marking an important milestone in 61C’s growth and the continued scaling of its global energy merchant platform.

MUFG Bank, Ltd., Wells Fargo Bank, N.A., Natixis, New York Branch, and Société Générale served as Joint Lead Arrangers for the Facility. MUFG Bank, Ltd. served as Administrative Agent and Sole Bookrunner. HSBC Bank USA N.A. served as Senior Managing Agent.

“The significant oversubscription of this financing reflects the confidence our banking partners have in 61C’s global platform, strategic direction, and growth trajectory,” said Josh Bailey, Chief Financial Officer of 61C. “The two-year tenor and single global borrowing base provide a unified liquidity foundation which allows us to continue building our business across three key regions.”

“MUFG is proud to have served as Sole Bookrunner on 61C’s refinancing of its global borrowing base credit facility," said Marcie Weiss, Head of Commodity Finance and Head of Working Capital & Trade Finance for MUFG. "This milestone underscores the deep trust our clients place in MUFG's structuring and execution capabilities, as well as the continued commitment from 61C's established bank group. We are also pleased to welcome a new lender to the Facility, broadening 61C's lender support as the company continues to expand its global footprint.”

About Six One Commodities Global LLC

61C is a global merchant of physical energy commodities and developer of energy-related infrastructure assets. Founded in 2018, 61C is backed by Pinnacle Asset Management, L.P. and headquartered in Stamford, CT with offices in Calgary, Houston, Madrid, Singapore and Zug. Please visit our website for more information: www.61commodities.com.

About Pinnacle Asset Management, L.P.

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, a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission, and a member of the National Futures Association.

About MUFG and MUFG Americas

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexible response to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit www.mufg.jp/english.

MUFG’s Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest internationally-headquartered financial institutions in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.