Bunge reduces pricing of $1.75 billion revolver, extends term to 2018

By Wendy Van Sickle

Columbus, Ohio, Aug. 11 – Bunge Finance Europe BV reduced pricing and extended the maturity of its unsecured $1.75 billion revolving credit facility under a Monday amendment, according to an 8-K filed with the Securities and Exchange Commission.

The interest range for borrowings under the revolver was reduced to Libor plus 35 basis points to 135 bps, depending on the company’s debt rating. Undrawn amounts are subject to a commitment fee of 35% of the margin for drawn amounts. The company also will pay a use-based fee ranging from 10 bps to 40 bps.

The facility now matures in August 2018, and the company has the option to request two additional one-year extensions.

The facility has a $250 million accordion feature.

BNP Paribas and HSBC Bank plc coordinated the debt with ABN Amro Bank NV acting as agent.

The borrower is a wholly owned subsidiary of Bunge Ltd., a White Plains, N.Y.-based agribusiness and food company.

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