ED&F Man Holdings has secured a new $1.6 billion credit line, Bloomberg reports. The U.K. sugar, cocoa and coffee broker’s new loan consists of a $1.1 billion 364-day loan and a $500 million revolving credit for 38 months.
The London-based company seeks to use the proceeds to replace two of its existing facilities totaling $1.3 billion. ABN Amro, BNP Paribas, ING Groep, Lloyds Banking Group, Natixis, Rabobank International, RBS, Societe Generale and Standard Chartered were appointed to arrange the financing.
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