SUCAFINA BRASIL & SUCAFINA COLOMBIA SUCCESSFULLY CLOSE LATAM SUSTAINABILITY-LINKED BORROWING BASE FACILITY

SANTOS, BRAZIL, AND BOGOTÁ, COLOMBIASeptember 15, 2022 – Sucafina Brasil and Sucafina Colombia (the “Companies”) are pleased to announce that they have jointly successfully closed a 2-year Sustainability-linked Senior Uncommitted Secured Borrowing Base Facility (the “Facility”), securing Total Commitments of US$275 million, with an accordion option of up to US$125 million. The commitments have been received from a globally diverse group of 10 European, Asian, and North and South American banks. 

The Facility will finance the group's origination operations in Brazil and Colombia in the coming years.

Starting in 2022, this Facility includes a sustainability framework, supporting the Group vision to be the leading sustainable Farm to Roaster coffee company in the world. Challenging key performance indicators have been put in place, with a strong focus on increasing the number of certified farmers, developing a carbon emissions and climate action plan, and monitoring deforestation in Brazil and Colombia. 

Coöperatieve Rabobank U.A. acted as Coordinator and Bookrunning Mandated Lead Arranger, Facility, and Security Agent.

Coöperatieve Rabobank U.A. and Natixis acted as Joint Sustainability Agent, with Société Générale; FMO; Citibank N.A., London Branch; Sumitomo Mitsui Banking Corporation, London Branch; ING Bank N.V., Amsterdam, Lancy/Geneva Branch; Raiffeisen Bank International AG; UBS Switzerland AG; and Banco Davivienda. S.A. as Lenders. 

HFW was counsel to Sucafina and Dentons Amsterdam acted as counsel on behalf of the banks.

Nikola Stojanovic, Acting Treasurer at Sucafina SA, said:

"The successful closing of the Group’s LATAM Sustainability-linked Syndicated Facility is an important milestone in Sucafina’s liquidity plan across various regions of the world. Despite a challenging environment in the first half of 2022, Sucafina is extremely pleased with this result and grateful for the continuous support of our banking syndicate. We would like to take this opportunity to welcome the new lenders joining the Facility. 

Sustainability and innovation are part of Sucafina’s DNA. We are pleased to pursue the improvement of the digitalization of trade flows via expanded Digital Agency features with Komgo and the inclusion of sustainability KPIs fully in line with the Group’s sustainability strategy.”

Steven de Vries Reilingh, Head TCF Agri EMEA at Rabobank, said:

"Back in 2017 we set up a small borrowing base facility for Sucafina’s coffee origination business in Brazil. Over the years we have grown the facility not only in size and flexibility but also by the number of participating banks. This year we further grew the facility, the purpose (to include the Colombian business), and the banking group again. Last but not least, the facility now includes relevant, challenging, and innovative sustainability KPIs. All in all, this is a milestone transaction for both Sucafina and Rabobank.”

About Sucafina

Sucafina is a leading sustainable Farm to Roaster coffee company, with a family tradition in commodities that stretches back to 1905. Today, with more than 1,200 employees in 32 countries, the Group is one of the leading coffee trading houses in the world, and one of the few focused entirely on coffee. Sucafina’s extensive supply chains span from producer-facing export operations to destination sales offices around the world.