June 17, 2021
Ameropa Signs USD 750 Million Multi-Currency Revolving Borrowing Base
Ameropa has just signed a USD 750 million Multicurrency Revolving Borrowing Base Credit Facility with 19 banks (the “Facility”) arranged through an amendment and extension process. The increase from the original USD 600 million Multicurrency Revolving Borrowing Base Credit Facility, dated 14 June 2019, underscores the continuing support for Ameropa from both existing and new lenders.
The Facility was led by Coöperatieve Rabobank U.A., ING Bank N.V. and UniCredit Bank AG as Active Original Bookrunners & Mandated Lead Arrangers. The Facility will be used for working capital, with ING Bank N.V. acting as Facility Agent and UniCredit Bank AG as Security Agent.
The Facility having been oversubscribed, Ameropa decided to scale back commitments to the target amount of USD 750 million as follows:
- Tranche A: a 364-days uncommitted USD 125 million Facility with one 364 days extension possible at lenders’ discretion
- Tranche B: a 364- days committed USD 176.5 million Facility with one 364 days extension possible at lenders’ discretion
- Tranche C: a 2-years committed USD 448.5 million Facility
The Active Original Bookrunners & Mandated Lead Arrangers were joined by
OBMLAs (Credit Suisse (Switzerland) Ltd.
BMLAs (Raiffeisen Bank International AG)
MLAs (Erste Group Bank AG, GarantiBank International N.V., HSBC Trinkaus & Burkhardt AG, Natixis, Société Générale, Zürcher Kantonalbank, Commerzbank Aktiengesellschaft, Frankfurt am Main)
LAs (Basellandschaftliche Kantonalbank, Basler Kantonbank, KBC Bank NV)
Arranger (Banque Cantonale Vaudoise)
Paricipant (BIC-Bred (Suisse) SA, Habib Bank AG)
Laurent Bogaert, Chief Financial Officer of Ameropa said: “We are very satisfied with the outcome of this syndication. Indeed, we achieved all goals we set for ourselves in this amendment and extension exercise, particularly optimizing the overall size of the facility, and we were very pleased to see the significant demand for the facility, demonstrating the strong support from our existing relationship banks as well as from new banks”.
William Dujardin, Ameropa Group CEO, added: “We are very satisfied with the increased financing granted to us and thankful to both our traditional financial partners and the incoming ones. This will allow us to sustain our growth and strong performance and underlines the confidence our partners have in the steps we have taken to strengthen our operating model, including improving our organizational structure, reinforcing our processes and teams, and developing a long term strategy to better serve our global customer base.”
Ameropa is a Swiss-based agri-business group founded in 1948 with world-wide activities that span the full supply chain, ranging from production, to logistics and merchandising, to distribution. A core activity of the group is the global merchandising and distribution of fertilizer and food & feed products, supported and enabled by complementary assets, such as silos, warehouses and port facilities, as well as upstream assets such as fertilizer production plants. Active in more than 30 countries, the group is the largest exporter of grains out of the Danube region and the largest independent global fertilizer trader, which selectively invests in logistical and processing assets such as Azomures, the largest chemical fertilizer plant in Romania.
For more information, please visit www.ameropa.com or call Ameropa on +41.61.307.50.69