24 December2024, Switzerland: On 23 December 2024, Syngenta Group (HK) Holdings Company Limited (“Borrower”) has entered into a USD 4,500 million syndicated three-year and five-year sustainability-linked term loan facility with a syndicate of banks from various jurisdictions led by the Agricultural Bank of China Limited Hong Kong Branch, Bank of China (Hong Kong) Limited, China Construction Bank Corporation, Hong Kong Branch, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd. and Industrial and Commercial Bank of China (Asia) Limited. The facility received an overwhelmingly positive response from the banking community, being oversubscribed 2.6 times from its initial amount of USD 3,000 million by more than 40 banks.
As a sustainability-linked term loan, it is the same size as the Borrower’s debut syndicated loan facility closed in 2022 and is the largest of its kind in the Asia Pacific loan market this year (according to LSEG LPC.).
The loan facility will be used for refinancing and general working capital purposes and is linked to two targets from Syngenta’s new sustainability priorities. Launched in April 2024, the priorities place sustainability at the core of the company’s strategy and demonstrate the company’s continued commitment to sustainable innovation whilst creating long-term value.
Syngenta Group’s global credit ratings are “A” from Fitch, “Baa1” from Moody’s and “BBB+” from S&P.
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News) (+80 Million Farming Audience Visits Krishak Jagat’s Hindi Website – Click Here for Website)
