Bunge Increases Accounts Receivable Securitization Program to $1.1 Billion, Adds Enhanced Sustainability Goals
ST. LOUIS, March 31, 2022–(BUSINESS WIRE)–Bunge (NYSE: BG) has completed a modification to its accounts receivable securitization program increasing its commitment capacity from US$925 million to US$1.1 billion. Additionally, the interest rate under this program is now tied to the company’s five main sustainability goals linked to its newly established Science Based Targets (SBTs). The goals define Bunge’s climate goals and reinforce the company’s commitment to eliminating deforestation in its supply chains by 2025.
“With this second sustainability financing, we continue to create meaningful connections between Bunge’s capital structure and our sustainability strategy. We are pleased with our progress against our ESG goals, which gives us the confidence to add such related goals to this program,” said Bunge Chief Financial Officer John Neppl.
In December 2021, Bunge announced that it had refinanced its Revolving credit facility linked to improved sustainability goals.
Rabobank is the administrative agent and BNP Paribas, Crédit Agricole and Rabobank are the acquirers involved in the transaction. In addition, Crédit Agricole Corporate & Investment Bank will assume the role of Sustainable Development Coordinator.
At Bunge (NYSE: BG), our goal is to connect farmers with consumers to provide essential food, feed and fuel to the world. With over two centuries of experience, unrivaled global scale and deep-rooted relationships, we work to put quality food on the table, increase sustainability where we operate, strengthen global food security and help communities thrive. . As a world leader in oilseed processing and a leading producer and supplier of specialty vegetable oils and fats, we value our partnerships with farmers to improve the productivity and environmental efficiency of farming in our supply chains. value and to bring quality products from where they are grown to where they are consumed. At the same time, we collaborate with our customers to create and reinvent the future of food, developing tailored and innovative solutions to meet changing food needs and trends in all regions of the world. Our company is headquartered in St. Louis, Missouri, and has nearly 23,000 dedicated employees working in approximately 300 facilities located in more than 40 countries.
We regularly publish important information for investors on our website, www.bunge.com, in the “Investors” section. We may use this website as a means of disclosing material non-public information and to comply with our disclosure obligations under the FD Regulations. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. Information contained on, or accessible through, our website is not incorporated by reference into, and does not form part of, this document.
Caution Regarding Forward-Looking Statements
This Bunge press release contains both historical and forward-looking statements. All statements, other than statements of historical fact, are or may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. , as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections regarding our future results, performance, prospects and opportunities. We have attempted to identify these forward-looking statements by using words such as “may”, “will”, “should”, “could”, “expect”, “anticipate”, “believe”, “plan”, “intends to”, “estimate”, “continue” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed or implied by these forward-looking statements. The following important factors, among others, could cause actual results to differ from these forward-looking statements: the impacts of the COVID-19 pandemic and other potential pandemic outbreaks; the effect of weather conditions and the impact of crop and animal diseases on our business; the impact of global and regional economic, agricultural, financial and commodity market, political, social and health conditions; changes in government policies and laws affecting our business, including agricultural and trade policies, financial market regulations, and environmental, tax and biofuels regulations; the impact of seasonality; the impact of government policies and regulations; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and profit from acquisitions, divestitures, joint ventures and strategic alliances; the impact of industry conditions, including fluctuations in the supply, demand and prices of agricultural raw materials and other raw materials and products we sell and use in our business, cost fluctuations energy and freight and competitive developments in our industries; the effectiveness of our capital allocation plans, funding needs and funding sources; the effectiveness of our risk management strategies; operational risks, including industrial accidents, natural disasters and cybersecurity incidents; changes in policy or exchange rates; the impact of our reliance on third parties; our ability to attract and retain senior management and key personnel; other factors affecting our business generally; and the risks and uncertainties described in our filings with the Securities and Exchange Commission, including those set forth in the Risk Factors section and under the heading “Caution Regarding Forward-Looking Statements” in our most recently filed Annual Report on Form 10. -K. The forward-looking statements included in this release are made only as of the date of this release, and except as required by federal securities law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect subsequent events. or circumstances.
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Bunge Press Office
Ruth Ann Wisener