Global sustainable coffee company Sucafina and an 11-bank syndicate led by BNP Paribas with Rabobank, as sustainability agent, have renewed their sustainability linked syndicated borrowing base facility first established in 2017.

The process started several months ago and involved strong cooperation between the company and participating banks.

“Following the over subscription of our facility in 2017, Sucafina has been thrilled by the strong and positive response again from the market as soon as the renewal of our main syndicated facility was announced. Our existing bank group showed a high level of reactivity, commitment, and enthusiasm on the revised competitive terms including the sustainability features and increased tenor. It allowed us to complete the renewal process in a very efficient way and I want to personally thank the banks, the law firms and of course my team for the commitment in the last few weeks,” said Philippe Penet, the CFO of Sucafina.

The facility is a collaborative effort between Sucafina and 11 participating banks, including ABN Amro, BNP Paribas, Credit Suisse,Natisix, Societe General and UBS Switzerland as mandated lead arrangers. Rabobank, ING, Banque Internationale de Commerce, HSBC France and Banque Cantonale de Geneve were lead arrangers.

“BNP Paribas is very proud of the services rendered to Sucafina Group by this $300 million sustainability linked syndicated borrowing base facility, extended now for a two years additional period with, thanks to its excellent track record, all of the initial 11 banks having renewed their commitments!” said Mathieu Durrleman, sector head, Agribusiness EMEA of BNP Paribas.

The sustainability targets of the facility, broadly aligned with the sustainable development goals of the United Nations, are an integral part of how Sucafina does business. Much of the company’s supply chains, especially in East Africa, connect it to smallholder farmers and vulnerable population groups. Sucafina has recently affirmed their full support for the Swiss Government’s 2018 Guidance on implementing the UN Guiding Principles in Business and Human Rights for the Commodity Trading Sector.

“Rabobank is delighted to take on the role of Sustainability Agent for this facility which has enabled us to contribute to Sucafina making a true on-the-ground impact with coffee farmers in East Africa,” said Maarten Biermans, head of Sustainable Markets, Rabobank.

With this facility and recent investments, Sucafina has secured again key tools to support its 2025 vision to “be the leading sustainable ‘farm to roaster’ coffee company in the world.”