Bunge Finance Europe B.V., a wholly-owned subsidiary of Bunge Ltd., has successfully closed its first sustainability-linked revolving credit facility.
The Amended Facility amends and extends borrower’s existing $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
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," says John Neppl, Bunge’s chief financial officer.
ABN AMRO Bank N.V., BNP Paribas, HSBC Bank plc, ING Bank N.V., Natixis and Sumitomo Mitsui Banking Corp. served as active bookrunners, mandated lead arrangers and coordinators on the amendment and extension.
In addition, ABN AMRO, BNP Paribas, Coöperatieve Rabobank U.A. and Natixis served as Sustainability Co-coordinators and assisted Bunge in structuring the facility in line with the Sustainability Linked Loan Principles.