WASHINGTON (dpa-AFX) - Bunge Global SA (BG) Thursday has extended the expiration date for its exchange offers and consent solicitations related to Viterra's existing notes from March 7 to April 7. The exchange offers allow eligible holders to swap Viterra's outstanding notes for up to $1.95 billion in new Bunge notes and cash.
On September 20, 2024, sufficient consents were received to amend Viterra's existing indentures, eliminating certain covenants and restrictions. These changes will take effect upon the settlement of the exchange offers, expected within two business days after the new expiration date.
The exchange offers are contingent on Bunge's pending acquisition of Viterra, which is awaiting final regulatory approvals and expected to close in the coming months. If the deal is delayed, Bunge may extend the expiration date further.
As of March 6, 2025, a high percentage of Viterra notes have already been tendered, with participation rates ranging from 96.4 percent to 99.1 percent. The exchange offers may reduce liquidity for non-exchanged notes and decrease protections for remaining holders.
BofA Securities and J.P. Morgan Securities are the lead dealer managers, while SMBC Nikko Securities is a co-dealer manager. The new Bunge notes remain unregistered and can only be offered under specific exemptions.
BG is currently trading at $73.51 or 2.51% higher on the NYSE.
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