Sucafina gives caffeine buzz to flagging loans market

coffee beans px230 for gc
By Mike Turner
29 May 2019

Switzerland’s Sucafina has renewed its $300m syndicated loan, with all 11 banks that lent to the coffee trader’s debut in 2017 rejoining the deal as bankers say there is still not enough business to go around.

Sucafina’s main syndicated bank facility now matures in 2021. The borrower signed its debut syndicated loan in October 2017.

The base facility has a sustainability-linked element, which is “broadly aligned” with the guidelines of the UN's Sustainable Development Goals, according to the borrower. 

“The facility is structured with [key ...

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