Bunge Limited Closes its First Sustainability-Linked Revolving Credit Facility

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Algemeen advies 17/12/2019 11:15
WHITE PLAINS, NY – December 16, 2019 – Bunge Finance Europe B.V. (“Bunge Finance” or the “Borrower”), a wholly-owned subsidiary of Bunge Limited (“Bunge” or the “Company”) has successfully closed its first sustainability-linked revolving credit facility (the “Amended Facility”). The Amended Facility amends and extends Borrower’s existing US$1,750,000,000 revolving credit facility dated December 12, 2017.

Through the sustainability-linked mechanism, the interest rate under the Amended Facility is tied to the performance of five sustainability performance targets that highlight and measure Bunge’s continued advancement of its sustainability initiatives across the following three areas: 1) reducing greenhouse gas emissions by improving industrial efficiency; 2) increasing traceability for main agricultural commodities; and 3) supporting increasing levels of adoption of sustainable practices across the wider soybean and palm supply chain.

“By directly linking some of our core sustainability goals to our financing, we are taking another meaningful step towards fulfilling our commitment to drive best-in-class value chains that are transparent, verified sustainable and which can create positive impact on the ground”, said John Neppl, Bunge’s Chief Financial Officer.

ABN AMRO Bank N.V. (“ABN AMRO”), BNP Paribas, HSBC Bank plc (“HSBC”), ING Bank N.V. (“ING”), Natixis and Sumitomo Mitsui Banking Corporation (“SMBC”) served as “Active Bookrunners, Mandated Lead Arrangers” and “Coordinators” on the amendment and extension. In addition, ABN AMRO, BNP Paribas, Coöperatieve Rabobank U.A. (“Rabobank”) and Natixis served as Sustainability Co-coordinators and assisted Bunge in structuring the facility in line with the Sustainability Linked Loan Principles[1].

Australia and New Zealand Banking Group Limited, Bank of China, Bank of Montreal, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank N.A., Rabobank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank AG, Industrial and Commercial Bank of China, Mizuho Bank (USA), Société Générale, Standard Chartered Bank, UniCredit Bank AG, U.S. Bank National Association and Wells Fargo Bank National Association have also acted as Mandated Lead Arrangers and Bookrunners for this transaction.

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