ST. LOUIS, MISSOURI, US — Bunge said on March 31 that it has closed on an amendment to its accounts receivable securitization program, increasing its committed capacity from $925 million to $1.1 billion while also strengthening its focus on sustainability.
The interest rate under this program is now linked to the company’s five core sustainability targets tied to its recently established science-based targets. The targets define Bunge’s climate goals and reinforce the company’s commitment to eliminate deforestation in its supply chain by 2025.
In December 2021, Bunge, a global leader in oilseed processing and producer and supplier of specialty plant-based oils and fats, announced it had refinanced its revolving credit facility tied to enhanced sustainability-linked targets.
“With this second sustainability-linked financing, we continue to create meaningful connections between Bunge’s capital structure and our sustainability strategy,” said John Neppl, chief financial officer of Bunge. “We are pleased with our progress against our ESG targets, which gives us the confidence to add such targets linked to this program.”
Rabobank is the administrative agent and BNP Paribas, Credit Agricole and Rabobank are committed purchasers in the transaction. In addition, Crédit Agricole Corporate & Investment Bank will serve as sustainability coordinator.