- December 18, 2021
- Posted by: Stratford Team
- Category: Business
ST. LOUIS — Bunge said on Dec. 16 that it has closed on the refinancing of its $1.75 billion, three-year revolving credit facility.
The interest rate under this facility is linked to the company’s credit ratings and also to five core sustainability targets, which include the recently established science-based targets (SBTs) that define Bunge’s climate goals within its operations and reinforce the company’s commitment to eliminate deforestation in its supply chains by 2025.
The transaction, done through Bunge Finance Europe BV, a wholly owned subsidiary of Bunge Ltd., refinances the company’s existing facility, which was converted into Bunge’s first ever sustainability-linked loan on Dec. 16, 2019.
“As an early adopter of sustainability-linked loan mechanisms, we created a meaningful connection between Bunge’s capital structure and our sustainability strategy,” said John Neppl, chief financial officer. “We are pleased with the progress…
