BUNGELTD: debt financing — Bunge enters new $1.75B revolving credit facility, terminates existing facility and $90M term loan

BUNGELTD

New $1.75B unsecured revolving credit facility for Bunge Finance Europe B.V., matures Oct 6, 2026, with two one-year extension options.
Replaces existing $1.75B facility dated Dec 2021; no borrowings outstanding on termination.
Prepaid and terminated 5-year term loan: ¥30.7B (Tranche A) and $90M (Tranche B) on Oct 6, 2023.
Accordion provision allows increase up to additional $1.75B; interest SOFR plus 0.25%-0.90% margin tied to credit ratings and sustainability.
Guarantee from Bunge (and future Bunge Global SA upon redomestication) with financial covenants on liquidity and leverage.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BUNGELTD incurred revolving credit of $1.75 billion with Crédit Agricole Corporate and Investment Bank, as agent at daily simple or term SOFR plus a credit spread adjustment, which will vary from maturing October 6, 2026.

Instrument: revolving credit
Principal: $1.75 billion
Counterparty: Crédit Agricole Corporate and Investment Bank, as agent
Rate: daily simple or term SOFR plus a credit spread adjustment, which will vary from
Maturity: October 6, 2026
Event: incurrence

Exact text from the filing

3 Year Revolving Facility Agreement On October 6, 2023, Bunge Finance Europe B.V. (“ BFE ”), a wholly owned subsidiary of Bunge Limited (“ Bunge ”), entered into an unsecured $1.75 billion (the “ Total Commitment ”) revolving credit facility (the “ Revolving Credit Facility ”), with Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BUNGELTD terminated Terminated Revolving Facility Agreement with Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto (effective 2023-10-06).

Action: termination
Agreement: credit facility
Counterparty: Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto
Effective: 2023-10-06

Exact text from the filing

The Revolving Credit Facility replaced an existing $1.75 billion revolving facility agreement, dated December 16, 2021, as amended on April 26, 2022, and as further amended and restated on June 21, 2023 (the " Terminated Revolving Facility Agreement "), among BFE, Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BUNGELTD terminated Terminated Term Loan Agreement with Sumitomo Mitsui Banking Corporation, as administrative agent, and certain lenders party thereto valued at ¥30.7 billion for Tranche A and $90 million for Tranche B (effective 2023-10-06).

Action: termination
Agreement: credit facility
Counterparty: Sumitomo Mitsui Banking Corporation, as administrative agent, and certain lenders party thereto
Value: ¥30.7 billion for Tranche A and $90 million for Tranche B
Effective: 2023-10-06

Exact text from the filing

On October 6, 2023, BLFC prepaid and terminated its 5-year Term Loan Agreement, dated as of July 1, 2019, as amended as of December 15, 2021, as further amended as of June 21, 2023 (the " Terminated Term Loan Agreement "), with Sumitomo Mitsui Banking Corporation, as administrative agent, and certain lenders party thereto.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BUNGELTD entered into Revolving Credit Facility with Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto valued at $1.75 billion (effective 2023-10-06).

Action: entry
Agreement: credit facility
Counterparty: Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto
Value: $1.75 billion
Effective: 2023-10-06

Exact text from the filing

On October 6, 2023, Bunge Finance Europe B.V. (" BFE "), a wholly owned subsidiary of Bunge Limited (" Bunge "), entered into an unsecured $1.75 billion (the " Total Commitment ") revolving credit facility (the " Revolving Credit Facility "), with Crédit Agricole Corporate and Investment Bank, as agent, and certain lenders party thereto (the " Lenders ").

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Source: SEC EDGAR

accession 0001144519-23-000223

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