Dentons advised Rabobank on sustainability-linked financing for Sucafina
With the deal, the trade house has secured US$275 million with an accordion option of up to US$125 million.
By : Legal Era
Update: 2022-10-07 04:30 GMT
Dentons advised Rabobank on sustainability-linked financing for Sucafina
With the deal, the trade house has secured US$275 million with an accordion option of up to US$125 million.
Global law firm Dentons has advised a syndicate of 10 European, Asian, and North and South American banks, led by Rabobank, on a two-year sustainability-linked loan facility to multinational coffee merchant Sucafina.
The 10 international banks who acted as lenders are Coöperatieve Rabobank UA, Natixis, Société Générale; FMO; Citibank NA (London branch); Sumitomo Mitsui Banking Corporation (London branch); ING Bank NV (Amsterdam, Lancy/Geneva branch); Raiffeisen Bank International AG; UBS Switzerland AG; and Banco Davivienda SA.
With the deal, Sucafina Brasil and Sucafina Colombia have secured total commitments of US$275 million, with an accordion option of up to US$125 million.
Sucafina is a multinational trade house that operates at every level of the coffee supply chain, from farming to roasting and trading. It has a vision of becoming the leading sustainable farm-to-roaster coffee company in the world by 2025.
The loan facility will finance Sucafina's origination operations in Brazil and Colombia in the coming years. It includes a sustainability framework with challenging and innovative sustainability KPIs.
While Coöperatieve Rabobank UA acted as coordinator and book-running mandated lead arranger, facility, and security agent, along with Natixis, it acted as a joint sustainability agent.
Dentons' multi-jurisdictional sustainable finance team was led by Jacqueline Bell (Amsterdam) with assistance from legal teams in Bogota, Amsterdam, Luxembourg, and New York.
The Amsterdam-based English law banking and finance team comprising Bell, Holly Quirke, and Grace Muntslag, acted as a lead team and advised on English laws. Catalina Pinella, Alejandro Parra, and Andrés Díaz advised on Colombian laws. Marcel Janssen, Daan Overwater, and Viviënne de Jong advised on Dutch laws. Stéphane Hadet, Christian Azoulay, and Arnida Alija advised on Luxembourg laws. John Oberdorf III and Andy J. Bates advised on New York laws.
The Santos Neto Advogados team comprising Domicio dos Santos Neto and Bruna Villas Boas Dias advised on Brazilian laws.