Bunge Global SA amended its trade receivables securitization program, increasing the aggregate facility size by $500 million to $2 billion while reducing the accordion feature by $500 million to $500 million.
Key takeaways
Securitization program aggregate size increased $500 million to $2 billion.
Accordion feature decreased $500 million from $1 billion to $500 million.
Added U.S. subsidiary (Bunge USA Grain, LLC) as seller; German subsidiary removed.
Canadian subsidiary (Bunge Canada Inc.) permitted to join upon conditions.
Removed sustainability provisions and revised applicable margin.
Recourse limited to first loss position based on historical receivables performance.