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News Aug 16, 2016

Shearman & Sterling Advises Bunge Limited Finance Corp. on $700 Million Senior Notes Offering

Shearman & Sterling represented Bunge Limited Finance Corp. (BLFC) and Bunge Limited in connection with the issuance and sale of approximately $700 million aggregate principal amount of BLFC’s 3.250% senior notes due 2026. Bunge Limited will fully, unconditionally and irrevocably guarantee all payments on the notes.


Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and U.S. Bancorp Investments, Inc. acted as joint book-running managers for the offering.  BNP Paribas Securities Corp., Credit Agricole Securities (USA) Inc., HSBC Securities (USA) Inc., Mizuho Securities USA Inc., SMBC Nikko Securities America, Inc. and SunTrust Robinson Humphrey, Inc. acted as senior co-managers, and ABN AMRO Securities (USA) LLC, ANZ Securities, Inc., BB Securities Limited, BBVA Securities Inc., Commerz Markets LLC, Deutsche Bank Securities Inc., ICBC Standard Bank Plc, ING Financial Markets LLC, nabSecurities, LLC, Natixis Securities Americas LLC, Rabo Securities USA, Inc., SG Americas Securities, LLC, Standard Chartered Bank and UniCredit Capital Markets LLC acted as co-managers.

BLFC and Bunge Limited intend to use the net proceeds from this offering for general corporate purposes, including, but not limited to, the repayment of outstanding indebtedness, which may include indebtedness under Bunge Limited’s revolving credit facilities.

Bunge Limited is a leading global agribusiness and food company with integrated operations that stretch from the farm field to consumer foods.  A 100%-owned finance subsidiary of Bunge Limited, Bunge Limited Finance Corp. was formed for the sole purpose of issuing debt obligations, other than commercial paper, primarily in the US markets and investing the proceeds of the issuances in a master trust structure that Bunge Limited created to centralize its financing operations.

The Shearman & Sterling team included partner Stephen Giove (New York-Capital Markets); associates Rupa Briggs (New York-Capital Markets), Flavio Averbug (New York-Capital Markets) and Jon Shields (New York-Capital Markets). Other Shearman & Sterling attorneys involved in the transaction were partner Douglas McFadyen (New York-Tax) and associate Adam Sternberg (New York-Tax).