Hogan Lovells advises ING Bank N.V. on financing Sucafina

Hogan Lovells advises ING Bank N.V. on financing Sucafina

Global law firm's advice resulted in the successful closing of a $500 million sustainability-linked finance to coffee trader Sucafina

The American-British law firm Hogan Lovells has advised the Dutch multinational ING Bank N.V. and a group of 16 international banks on the successful closing of a $500 million sustainability-linked secured borrowing base financing to the Geneva-based coffee trader Sucafina.

Although the initial launch size was for only $400 million, it was oversubscribed leading to its upsize to $500 million following commitments received from a diverse group of 16 European, American and Asian banks.

The financing is to be used to refinance Sucafina's existing two-year $300 million senior secured borrowing base facility, originally dated October 2017 and finance Sucafina's future trading operations.

ING Bank N.V. acted as sole bookrunner, coordinator and documentation agent in the syndication and will act as facility agent for the financing.

Hogan Lovells' multi-jurisdictional team across six offices acted as counsel on behalf of the banks. The team comprised of the law firm's London partner David Leggott, senior associate Philip Beswick and associate Oliver Travers; New York partner Ricardo Martinez and senior associate Christopher Bonilla; Frankfurt partner Katlen Bloecker and senior associate Antonia Wolf, Amsterdam partner Wouter Jongen and senior associate Art van der Pols; Milan partner Carlo Massini and associate Gian Filippo Bendandi; and Ho Chi Minh City partner Samantha Campbell and senior associate Long Huynh.

The global law firm's team also worked alongside correspondent counsel at Lydian CV (Belgium), Froriep LLP (Switzerland), Bonn Steichen & Partners (Luxembourg), Blake, Cassels & Graydon LLP (Ontario and British Columbia), and Jadek & Pensa (Slovenia).