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Pierre-Alexandre Degehet, Partner at BSP, assisted by Kateryna Nevmerzhytska, Associate, has acted as Luxembourg counsel supporting ING Bank N.V. and a group of international banks on the successful closing of a US$500m sustainability-linked senior secured borrowing base financing to Geneva-based coffee trader Sucafina.
The borrowing base facility was significantly oversubscribed and subsequently upsized to US$500 million being the initial launch size of US$400m, with commitments received from a group of 16 European, American and Asian banks. The financing will be used to refinance Sucafina’s existing two-year US$300m senior secured borrowing base facility, originally dated October 2017.
Along with an existing Brazilian syndicated borrowing base and...
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