BONDUELLE

A French SCA (Partnership Limited by Shares) with a capital of 56 942 095 Euros
Head Office: La Woestyne 59173 Renescure, France
Registered under number: 447 250 044 (Dunkerque Commercial and Companies Register)

Villeneuve d’Ascq, November 30, 2020

Once again, Bonduelle strengthens its financial flexibility and aligns this financing to sustainable development objectives

After the successful issuance of a NEU CP program in July 2020, the Bonduelle Group announces the early renewal of its syndicated loan, increasing it from € 300 million to € 400 million and indexing the margin on Environmental, Social and Governance criteria (ESG).

Signed on November 30, 2020 with an enlarged pool of 11 banks (9 banking groups), this syndicated loan, with impact, includes a single tranche of revolving credit (RCF - Revolving Credit Facility) significantly oversubscribed and refinances the existing RCF of € 300 million that was due to mature in July 2021.

By the completion of this transaction, the Bonduelle Group achieves several objectives:

• strengthened financial flexibility: due to its business model, the group has seasonal working capital financing requirements that are easily met by the Revolving Credit Facility principle;
• an extended average maturity of the group's debt (maturity of 5 years in fine);
• competitive financing on the basis of the negotiated margin grid and the optimization of this syndicated loan through a Neu CP program launched in July 2020;
• an indexation of the margin in line with the group's Corporate Social Responsibility (CSR) objectives and its plan to obtain B Corp certification (certification covering a very broad set of ESG criteria) for all its activities by 2025;
• a banking pool extended to new partners, both French and international, reflecting the group's growing internationalization and strengthening its platform of partners.

This financing transaction, carried out in a particularly uncertain economic and financial context, once again underlines the group's financial strength. The over subscription and the expansion of the pool of lenders also demonstrate the enthusiasm of financial institutions for the Bonduelle Group's financial profile.

Via its endorsement of the B Corp certification process, this transaction illustrates the group's commitments in terms of Social and Environmental Responsibility, in line with its raison d'être to “Inspire the transition toward a plant-based diet to contribute to people's well-being and planet health"*.

The Bonduelle Group has been advised by the financial firm Redbridge Debt & Treasury Advisory and the law firm Willkie Farr & Gallagher LLP based in Paris.

The syndicated loan is underwritten by Crédit Agricole Nord de France, CIC Nord Ouest, BPCE (Caisse d'Epargne Hauts de France and Natixis) and BNP Paribas, Mandated Arrangers and Book runners, and by Société Générale Group (Crédit du Nord and Société Générale), Bank of America, Commerzbank, Arkéa and JP Morgan, Mandated Arrangers, with Crédit Agricole Nord de France acting as Credit Agent, BNP Paribas as Documentation Agent and BNP Paribas, Crédit Agricole Nord de France and Natixis acting as CSR Co-Coordinators, with Natixis as Lead Agent.
The banks have been advised by De Pardieu.

*subject to approval of the next Shareholder’s meeting

About Bonduelle

Bonduelle, a family business, was established in 1853. Its mission is to be the world reference in "well-living" through plant-based food. Prioritizing innovation and long-term vision, the group is diversifying its operations and geographical presence. Its vegetables, grown over almost 120,000 hectares all over the world, are sold in 100 countries under various brand names and through various distribution channels and technologies. An expert in agro-industry with 56 industrial sites or owned agricultural production sites, Bonduelle produces quality products by selecting the best crop areas close to its customers.

Bonduelle is listed on Euronext compartment B
Euronext indices: CAC MID & SMALL - CAC FOOD PRODUCERS - CAC ALL SHARES
Bonduelle is part of the Gaïa non-financial performance index and employee shareholder index (I.A.S.)
Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code Bloomberg : BON FP

Find out about the group’s current events and news on Twitter @Bonduelle_Group, and its financial news on @BonduelleCFO

Attachment

• Bonduelle - RCF Press release