Nufarm agrees bridge to replace breached bilaterals

Nufarm, the Australian agrichemicals company, has agreed a A$900m ($867m) one year facility to replace a series of bilateral loans. The firm was forced to rethink its borrowing strategy after breaching two covenants earlier this year.

  • 30 Nov 2010

ANZ, HSBC, National Australia Bank and Rabobank are providing the 12 month loan, and Rabobank has been mandated to prepare longer term funding. This will comprise a A$600m syndicated loan and a A$300m asset-backed securitisation to refinance the one year facility in 2011.

“Nufarm can now refocus on its ...

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