Bunge subsidiary prices senior notes offering
March 20, 2007
by Eric Schroeder
WHITE PLAINS, N.Y. — Bunge Ltd. said its wholly-owned finance subsidiary Bunge N.A. Finance L.P. has priced a public offering of $250 million aggregate principal amount of 5.90% senior notes due 2017. The senior notes will be guaranteed by Bunge Ltd., with the transaction expected to close on March 22.
Bunge N.A. Finance L.P. said it intends to use the net proceeds of the offering to purchase preferred stock of an indirect, 100%-owned, U.S. subsidiary of Bunge Ltd. The proceeds of the sale are expected to be used to repay existing indebtedness of Bunge.