Syngenta concludes extensive loan agreement

The facility received an “overwhelmingly positive response” from banks and was oversubscribed 2.6 times by more than 40 banks, according to a statement on Monday evening.

The direct borrower is therefore Syngenta Group (HK) Holdings Company Limited. The banking consortium is led by Agricultural Bank of China Limited (Hong Kong Branch), Bank of China (Hong Kong) Limited, China Construction Bank Corporation (Hong Kong Branch), Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd . and the Industrial and Commercial Bank of China (Asia) Limited.

As a sustainability-oriented loan, it has the same scope as the first syndicated loan, which was concluded in 2022, it says. It is also the largest of its kind in the Asia-Pacific credit market this year.

The credit facility will reportedly be used for refinancing and general working capital purposes and will be tied to objectives of Syngenta’s new sustainability priorities, the statement said. The Syngenta Group’s global credit ratings are “A” from Fitch, “Baa1” from Moody’s and “BBB+” from S&P.

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Basel/Hong Kong (awp)