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Keystone Foods Amends its Credit Facilities to US$900 million

Pennsylvania, December 14, 2015 - Rabobank, ING, ICBC, BMO-Harris Bank, and Farm Credit Services of America, as joint lead arrangers, have concluded an amendment and extension of the current credit facilities for Keystone Foods, a subsidiary of Marfrig Global Foods. The credit facilities available for the Company were increased from US$630 million to US$900 million and will be used for working capital and general corporate purposes. The joint lead arrangers raised over US$1 billion in aggregate commitments to the credit facilities.

The credit facilities consist of a $530 million, five-year revolver and a $370 million, seven-year term loan that matures in 2020 and 2022, respectively. Pricing on the revolver is libor plus 125 to 225bps, while pricing on the term loan is libor plus 150 to 250bps. The term loan was sold to farm-credit-system institutions. Rabobank acted as lead agent and is administrative agent.