Bunge Extends Exchange Offers to $1.95B

By Tamara Parker • Monday, December 30 10:24 • Permanent Link

Bunge Limited Finance Corp. has announced an extension of its exchange offers, with the expiration date being pushed to February 3, 2025. The company is offering to exchange outstanding 2.000% notes due 2026, 4.900% notes due 2027, 3.200% notes due 2031, and 5.250% notes due 2032 for up to $1.95 billion aggregate principal amount of new notes and cash. The extension is a result of consents received to amend the existing viterra indentures, including the elimination of certain covenants, restrictive provisions, and events of default, and modification of other provisions. As of December 30, 2024, the principal amounts of existing viterra notes had been validly tendered and not validly withdrawn as follows: 95.8% for 2.000% notes due 2026, 97.3% for 4.900% notes due 2027, 99.3% for 3.200% notes due 2031, and 98.3% for 5.250% notes due 2032. These figures indicate high participation in the exchange offers. The company expects to close the business combination with Viterra in the next several months and will provide notice in advance if further extensions are anticipated. Bunge has engaged lead dealer managers and solicitation agents for the exchange offers and consent solicitations. The new Bunge notes have not been registered under the Securities Act or any state or foreign securities laws. Bunge, with its corporate headquarters in St. Louis, Missouri, has approximately 23,000 employees across over 300 facilities in more than 40 countries. Today the company's shares have moved -1.3% to a price of $77.08. Check out the company's full 8-K submission here.

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