Bunge Extends Expiration Dates for Exchange Offers
ST. LOUIS, MO – In a recent business development, Bunge Global SA, through its subsidiary Bunge Limited Finance Corp. (BLFC), announced the extension of the expiration dates for its previously announced Exchange Offers. The Exchange Offers, which allow eligible holders of certain notes issued by Bunge to exchange their existing notes for new notes with different terms, were initially set to expire on March 16, 2023. However, due to the ongoing market conditions and to provide more flexibility to eligible holders, Bunge has decided to extend the expiration dates.
Extension of Exchange Offers
The Exchange Offers relate to Bunge’s 2.000% Notes due 2026 (the “Existing Viterra 2026 Notes”), 4.900% Notes due 2027 (the “Existing Viterra 2027 Notes”), and 3.200% Notes due 2031 (the “Existing Viterra 2031 Notes”), collectively referred to as the “Existing Notes.” Eligible holders of these notes can exchange their notes for new notes with different terms, including new notes with a lower coupon rate or new notes with a later maturity date. The extended expiration dates for the Exchange Offers are:
- Existing Viterra 2026 Notes: April 27, 2023
- Existing Viterra 2027 Notes: April 27, 2023
- Existing Viterra 2031 Notes: April 27, 2023
Impact on Eligible Holders
The extension of the Exchange Offers provides eligible holders of the Existing Notes with more time to consider their options. This may be particularly beneficial for those who were unable to make a decision before the initial expiration date due to market volatility or other reasons. By extending the expiration dates, Bunge aims to help its bondholders make informed decisions based on current market conditions.
Impact on the World
The extension of the Exchange Offers by Bunge is a reflection of the current market conditions. With ongoing economic uncertainty and volatility, many companies are extending the deadlines for their debt exchange offers to provide more flexibility to their bondholders. This trend is expected to continue as companies navigate the complex economic environment.
Conclusion
Bunge’s decision to extend the expiration dates for its Exchange Offers is a prudent move in the current economic climate. By providing more time for eligible holders of its Existing Notes to consider their options, Bunge aims to ensure that its bondholders make informed decisions based on the most up-to-date market conditions. This trend of extending exchange offer deadlines is likely to continue as companies navigate the ongoing economic uncertainty.
As a responsible and forward-thinking company, Bunge is committed to the financial well-being of its bondholders. By extending the Exchange Offers, Bunge is demonstrating its commitment to transparency, flexibility, and responsiveness in the face of challenging market conditions.
For more information about the Exchange Offers, eligible holders should refer to the Offering Circular and other related materials, which can be obtained from the Information Agent, D.F. King & Co., Inc.
