Jun. 8, 2011 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 06/08/11 -- Finacity Corporation ("Finacity") announced today that it has facilitated the successful closing of a global trade receivables securitization program for Bunge Limited ("Bunge") (NYSE: BG). The securitization program will provide Bunge with cash proceeds of up to $700 million through the on-going purchase of receivables.
This program is intended to enhance Bunge's financial flexibility by providing an additional source of funding for its operations.
Finacity helped Bunge to launch the securitization by providing analytic and structuring support, and serves as on-going Administrator providing comprehensive reporting.
The program will be funded through a consortium of four bank-sponsored commercial paper conduits.
About Bunge Limited
Bunge Limited (www.bunge.com) (NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America. Founded in 1818, the company is headquartered in White Plains, New York.
Finacity specializes in the structuring and provision of efficient receivables funding programs, state-of-the-art servicing and administration. Finacity conducts business throughout the world. For more information about Finacity, please visit www.finacity.com.
Thomas Heslenfeld (USA)
Tel +1 203 428 3519