Press release: Strong banking support for future growth

Cefetra Group B.V. (“Cefetra” or the “Company”), a leading, independent and global supplier of agricultural ingredients to the animal nutrition and food industries, is pleased to announce the successful closing of its inaugural Uncommitted Secured Borrowing Base Facility (the “Facility”).  

ING and Rabobank, acted as Underwriting banks and Bookrunning Mandated Lead Arrangers (“BMLA’s”) and completed a successful syndication process. The Facility was oversubscribed and will have 11 first-class international banks, who were subsequently scaled back, whereby the Company chose to use part of its accordion and increase the Facility, from the initially underwritten amount of EUR 600 million, to EUR 650 million. 

Next to ING and Rabobank, the Participating banks in the facility are:
– Deutsche Bank AG, Amsterdam Branche,  
– Oversea-Chinese Banking Corporation Limited, 
– Société Générale, 
– GarantiBank International N.V., 
– Natixis S.A.,
– Nexent Bank N.V.,
– Raiffeisen Bank International AG, 
– Banque Internationale de Commerce – BRED (Suisse) SA, and 
– Anadolu Bank Nederland N.V. 

The Facility was structured as a one-year Uncommitted Borrowing Base Facility, secured by virtually all current assets of the Company with carve-outs for bilateral lines of credit, factoring lines, repo facilities and mortgage-backed loans. 

Remco van Gelderen, Group Chief Financial Officer, said “The exceptional success of this inaugural Borrowing Base Facility demonstrates the confidence in Cefetra’s quality of assets and profitability as an independent merchant and supply chain manager in agri and food raw materials and ingredients, and is marking an important milestone in the Company’s financing structure. The Facility offers great flexibility to finance all existing businesses of Cefetra Group globally, as well as its future growth.”

Daan Vriens, Group Chief Executive Officer, added “We are very pleased with the BMLA’s that underwrote this transaction before Cefetra was taken over by the consortium of investors. With them we are proud to have brought together such a strong group of banks, with commodity expertise and the services and the global coverage that our business requires. 

The success of the syndication reflects the strong support for Cefetra’s business model and market position. The Borrowing Base structure provides Cefetra with a robust and flexible working capital solution to support its global operations. With our strong and committed shareholder group, we share the ambition to invest in the future growth and innovation.”   

Cefetra engaged NautaDutilh as legal advisors and Vollebregt Advisory as debt advisor, while the banks were advised by Dentons on legal matters.