Bunge Global (NYSE: BG) raises $594M via 2031 notes
Bunge Global SA (BG), via its 100%-owned finance subsidiary Bunge Limited Finance Corp. (BLFC), is offering $600 million aggregate principal amount of 5.000% senior notes due August 19, 2031, issued under its shelf registration. The notes are unsecured, unsubordinated obligations of BLFC and are fully, unconditionally and irrevocably guaranteed on the same unsecured, unsubordinated basis by Bunge.
The notes are offered at 99.651% of principal, with an underwriting discount of 0.350%, providing BLFC estimated net proceeds of about $593.8 million after expenses, to be used for general corporate purposes including debt repayment, working capital, capex, stock repurchases and subsidiary investments. Interest accrues from August 19, 2026, is paid semi-annually on February 19 and August 19 starting February 19, 2027, and BLFC may redeem early, including a make-whole call before a defined par call date and par redemption thereafter. Upon a Change of Control Triggering Event, holders can require BLFC to repurchase notes at 101% of principal plus accrued interest. Bunge reports sizeable scale, with 2025 net sales of $70.3 billion and net income attributable to shareholders of $816 million, and total assets of $46.8 billion and total debt of $15.2 billion as of June 30, 2026.
Positive
- None.
Negative
- None.
Key Figures
Key Terms
Change of Control Triggering Event financial
Par Call Date financial
Treasury Rate financial
readily marketable inventories financial
Attributable Indebtedness financial
Offering Details
FAQ
What is Bunge Global SA (BG) issuing in this 424B2 and what are the key terms?
How will Bunge Global SA (BG) use the net proceeds from the $600 million notes?
What are the pricing and underwriting terms of Bunge (BG)’s 5.000% senior notes due 2031?
What call and change-of-control protections apply to Bunge (BG)’s new notes?
What is Bunge Global SA (BG)’s recent financial profile as shown in the prospectus supplement?
How are the Bunge (BG) notes and guarantee ranked versus other obligations?
AI-generated analysis. How Rhea-AI works. Not financial advice.
Fully and Unconditionally Guaranteed by
BUNGE GLOBAL SA
| | | |
Per Note
|
| |
Total
|
| ||||||
|
Public Offering Price(1)
|
| | | | 99.651% | | | | | $ | 597,906,000 | | |
|
Underwriting Discount
|
| | | | 0.350% | | | | | $ | 2,100,000 | | |
|
Proceeds (Before Expenses) to BLFC(1)
|
| | | | 99.301% | | | | | $ | 595,806,000 | | |
| |
Wells Fargo Securities
|
| |
BofA Securities
|
| |
Mizuho
|
| |
Rabo Securities
|
|
| | Deutsche Bank Securities | | |
ING
|
| |
SMBC Nikko
|
|
| |
Academy Securities
|
| |
BBVA
|
| |
BMO Capital Markets
|
| |
BNP PARIBAS
|
|
| | Citigroup | | |
COMMERZBANK
|
| |
Commonwealth Bank of Australia
|
| |
Credit Agricole CIB
|
|
| | HSBC | | |
J.P. Morgan
|
| |
Natixis
|
| |
OCBC
|
|
| | Santander | | |
Scotiabank
|
| |
Standard Chartered Bank
|
| |
US Bancorp
|
|
| | ANZ Securities | | |
DZ Financial Markets LLC
|
| |
Goldman Sachs & Co. LLC
|
| |
ICBC Standard Bank
|
|
| |
Loop Capital Markets
|
| |
Mischler Financial Group, Inc.
|
| |
PNC Capital Markets LLC
|
| |
Raiffeisen Bank International
|
|
| |
RBC Capital Markets
|
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SEB
|
| |
SOCIETE GENERALE
|
| |
Westpac Capital Markets LLC
|
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Page
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-iii | | |
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FORWARD LOOKING STATEMENTS
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| | | | S-iv | | |
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SUMMARY
|
| | | | S-1 | | |
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RISK FACTORS
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| | | | S-7 | | |
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USE OF PROCEEDS
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| | | | S-10 | | |
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CAPITALIZATION
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| | | | S-11 | | |
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DESCRIPTION OF THE NOTES
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| | | | S-13 | | |
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BOOK-ENTRY, DELIVERY AND FORM
|
| | | | S-29 | | |
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TAXATION
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| | | | S-31 | | |
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CERTAIN ERISA CONSIDERATIONS
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| | | | S-37 | | |
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UNDERWRITING
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| | | | S-39 | | |
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LEGAL MATTERS
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| | | | S-44 | | |
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EXPERTS
|
| | | | S-44 | | |
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WHERE YOU CAN FIND MORE INFORMATION
|
| | | | S-44 | | |
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INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
|
| | | | S-44 | | |
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Page
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RISK FACTORS
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| | | | 1 | | |
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FORWARD-LOOKING STATEMENTS
|
| | | | 1 | | |
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ABOUT THIS PROSPECTUS
|
| | | | 2 | | |
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WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
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INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
|
| | | | 2 | | |
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ABOUT BUNGE GLOBAL SA
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| | | | 3 | | |
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ABOUT BUNGE LIMITED FINANCE CORP.
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| | | | 5 | | |
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ABOUT BUNGE FINANCE EUROPE B.V.
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| | | | 5 | | |
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USE OF PROCEEDS
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| | | | 5 | | |
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DESCRIPTION OF SHARE CAPITAL
|
| | | | 6 | | |
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DESCRIPTION OF DEBT SECURITIES
|
| | | | 16 | | |
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BOOK ENTRY, DELIVERY AND FORM
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| | | | 19 | | |
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PLAN OF DISTRIBUTION
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| | | | 22 | | |
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LEGAL MATTERS
|
| | | | 23 | | |
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EXPERTS
|
| | | | 23 | | |
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Six Months Ended
June 30, |
| |
Year Ended December 31,
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| | | |
2026
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2025
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2025
|
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2024
|
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2023
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| | | |
(U.S. dollars in millions)
|
| |||||||||||||||||||||||||||
| Consolidated Statements of Income Data | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Net sales
|
| | | $ | 45,902 | | | | | $ | 24,412 | | | | | $ | 70,329 | | | | | $ | 53,108 | | | | | $ | 59,540 | | |
|
Cost of goods sold
|
| | | | (43,455) | | | | | | (23,077) | | | | | | (66,920) | | | | | | (49,715) | | | | | | (54,695) | | |
|
Gross profit
|
| | | | 2,447 | | | | | | 1,335 | | | | | | 3,409 | | | | | | 3,393 | | | | | | 4,845 | | |
|
Selling, general and administrative expenses
|
| | | | (1,137) | | | | | | (798) | | | | | | (2,113) | | | | | | (1,776) | | | | | | (1,715) | | |
|
Interest income
|
| | | | 88 | | | | | | 105 | | | | | | 202 | | | | | | 163 | | | | | | 148 | | |
|
Interest expense
|
| | | | (378) | | | | | | (210) | | | | | | (628) | | | | | | (471) | | | | | | (516) | | |
|
Foreign exchange (losses) gains – net
|
| | | | (120) | | | | | | 69 | | | | | | (51) | | | | | | (189) | | | | | | 20 | | |
|
Other income – net
|
| | | | 92 | | | | | | 269 | | | | | | 289 | | | | | | 442 | | | | | | 129 | | |
|
Income (loss) from affiliates
|
| | | | 12 | | | | | | 8 | | | | | | 26 | | | | | | (38) | | | | | | 140 | | |
|
Income from continuing operations before income
tax |
| | | | 1,004 | | | | | | 778 | | | | | | 1,134 | | | | | | 1,524 | | | | | | 3,051 | | |
|
Income tax expense
|
| | | | (222) | | | | | | (204) | | | | | | (288) | | | | | | (336) | | | | | | (714) | | |
|
Income from continuing operations
|
| | | | 782 | | | | | | 574 | | | | | | 846 | | | | | | 1,188 | | | | | | 2,337 | | |
|
Loss from discontinued operations, net of tax
|
| | | | — | | | | | | – | | | | | | (3) | | | | | | — | | | | | | — | | |
|
Net income
|
| | | | 782 | | | | | | 574 | | | | | | 843 | | | | | | 1,188 | | | | | | 2,337 | | |
|
Net income attributable to noncontrolling interests
and redeemable noncontrolling interests |
| | | | (36) | | | | | | (19) | | | | | | (27) | | | | | | (51) | | | | | | (94) | | |
|
Net income attributable to Bunge shareholders
|
| | | $ | 746 | | | | | $ | 555 | | | | | $ | 816 | | | | | $ | 1,137 | | | | | $ | 2,243 | | |
| | | |
As of June 30,
2026
|
| |
As of December 31,
|
| ||||||||||||
| | | |
2025
|
| |
2024
|
| ||||||||||||
| | | |
(U.S. dollars in millions)
|
| |||||||||||||||
| Consolidated Balance Sheet Data | | | | | | | | | | | | | | | | | | | |
|
Cash and cash equivalents
|
| | | $ | 593 | | | | | $ | 1,135 | | | | | $ | 3,311 | | |
| Inventories(1) | | | | | 15,461 | | | | | | 13,198 | | | | | | 6,491 | | |
|
Working capital(2)
|
| | | | 9,481 | | | | | | 9,264 | | | | | | 8,523 | | |
|
Total assets
|
| | | | 46,782 | | | | | | 44,528 | | | | | | 24,899 | | |
|
Short-term debt, including current portion of long-term debt
|
| | | | 5,788 | | | | | | 5,220 | | | | | | 1,544 | | |
|
Long-term debt
|
| | | | 9,426 | | | | | | 8,831 | | | | | | 4,694 | | |
|
Registered shares and additional paid-in-capital
|
| | | | 9,840 | | | | | | 9,843 | | | | | | 5,326 | | |
|
Total equity
|
| | | | 17,342 | | | | | | 17,369 | | | | | | 10,945 | | |
|
Total liabilities, redeemable noncontrolling interest and equity
|
| | | | 46,782 | | | | | | 44,528 | | | | | | 24,899 | | |
| |
Issuer
|
| | Bunge Limited Finance Corp. | |
| |
Guarantor
|
| | Bunge Global SA. | |
| |
Notes Offered
|
| | $600 million aggregate principal amount of the Notes. | |
| |
Maturity Date
|
| | The Notes will mature on August 19, 2031. | |
| |
Interest Rate
|
| | The Notes will bear interest at the rate of 5.000% per annum. | |
| |
Interest Payment Dates
|
| | Interest on the Notes will be payable semi-annually in arrears on February 19 and August 19 of each year, commencing on February 19, 2027. | |
| |
Ranking
|
| | The Notes will be unsecured and unsubordinated indebtedness of BLFC and will rank equally in right of payment with each other and with all other existing and future unsecured and unsubordinated indebtedness of BLFC. | |
| |
Guarantee
|
| | All payments on the Notes, including principal and interest, will be fully, unconditionally and irrevocably guaranteed by Bunge. Bunge’s guarantee will rank equally in right of payment with its other unsecured and unsubordinated indebtedness and guarantees. | |
| |
Further Issuances
|
| | BLFC may from time to time, without the consent of the existing holders of the Notes, create and issue additional Notes having the same terms and conditions as the Notes in all respects, except for issue date, issue price and first payment of interest of the Notes. Additional Notes issued in this manner will be consolidated with and will form a single series with the previously outstanding Notes; provided that if the additional Notes are not fungible with the previously outstanding Notes for U.S. federal income tax purposes, the additional Notes will have a separate CUSIP number, Common Code, ISIN number and/or any other identifying number. | |
| |
Optional Redemption
|
| | BLFC may redeem the Notes at its option, in whole at any time, or in part, from time to time, at the redemption prices described herein under the caption “Description of the Notes — Optional Redemption by BLFC.” | |
| | Offer to Repurchase Upon Change of Control Triggering Event | | | Upon the occurrence of a “Change of Control Triggering Event” (as defined under the caption “Description of the Notes”) with respect to the Notes, unless BLFC has irrevocably exercised its right to redeem the Notes without such redemption being subject to any conditions precedent, holders will have the right, at such holder’s option, subject to the terms and conditions of the Indenture (as defined under the caption “Description of the Notes”), to require BLFC to purchase for cash any or all of such holder’s Notes in integral multiples of $1,000 original principal amount, at a price equal to 101% of the aggregate principal amount of the Notes to be purchased plus accrued and unpaid interest to, but excluding, the date the Notes are purchased, if any, subject to the right of holders | |
| | | | | of the Notes of record on the relevant record date to receive interest due on the relevant interest payment date. See “Description of the Notes — Repurchase at the Option of Holders.” | |
| |
Certain Covenants
|
| | The Indenture will contain covenants that will restrict BLFC’s ability, with certain exceptions, to: | |
| | | | |
•
incur debt secured by liens;
•
engage in sale-leaseback transactions; and
•
enter into certain consolidations, mergers and transfers of all or substantially all of the assets of BLFC and its subsidiaries, taken as a whole.
See “Description of the Notes — Covenants.”
|
|
| |
No Prior Market
|
| | The Notes will be new securities for which there is no market. Although the underwriters have informed BLFC that they currently intend to make a market for the Notes, they are not obligated to do so and may discontinue market-making at any time in their sole discretion and without notice. Accordingly, BLFC cannot assure you that a liquid market will develop or be maintained. | |
| |
Use of Proceeds
|
| | BLFC estimates that it will receive net proceeds of approximately $593.8 million from the offering of the Notes, after deducting the underwriting discounts and estimated offering expenses. We intend to use the net proceeds from the offering for general corporate purposes. General corporate purposes may include, without limitation, the repayment and refinancing of debt, including certain short-term indebtedness, working capital, capital expenditures, stock repurchases and investments in subsidiaries. See “Use of Proceeds.” | |
| |
Form and Denomination
|
| | The Notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. | |
| |
Governing Law
|
| | The Notes and the Indenture will be governed by the laws of the State of New York. | |
| |
Trustee
|
| | U.S. Bank Trust Company, National Association. | |
| |
Risk Factors
|
| | See “Risk Factors” and other information included or incorporated by reference in this prospectus supplement for a discussion of factors that should be carefully considered before investing in the Notes. | |
| | | |
As of June 30, 2026
|
| |||||||||
| | | |
Actual
|
| |
As adjusted(1)
|
| ||||||
| | | |
(U.S. dollars in millions)
|
| |||||||||
|
Cash and cash equivalents
|
| | | $ | 593 | | | | | $ | 1,187 | | |
| Debt(2): | | | | | | | | | | | | | |
| Short-term debt and Current portion of long-term debt: | | | | | | | | | | | | | |
|
Revolving credit facilities
|
| | | $ | 830 | | | | | $ | 830 | | |
|
Commercial paper program
|
| | | | 564 | | | | | | 564 | | |
|
Other short-term debt
|
| | | | 3,194 | | | | | | 3,194 | | |
|
Current portion of long-term debt
|
| | | | 1,200 | | | | | | 1,200 | | |
|
Total Short-term debt and Current portion of long-term debt(3)
|
| | | | 5,788 | | | | | | 5,788 | | |
| Long-term debt(4) | | | | | | | | | | | | | |
|
Term loan due 2027 – SOFR plus 1.000%
|
| | | | 250 | | | | | | 250 | | |
|
Term loan due 2028 – SOFR plus 1.200%
|
| | | | 250 | | | | | | 250 | | |
|
Term loan due 2028 – SOFR plus 1.100%
|
| | | | 300 | | | | | | 300 | | |
|
Term loan due 2028 – SOFR plus 1.100%
|
| | | | 1,000 | | | | | | 1,000 | | |
|
3.25% Senior Notes due 2026(5)
|
| | | | 700 | | | | | | 700 | | |
|
4.90% Senior Notes due 2027
|
| | | | 442 | | | | | | 442 | | |
|
3.75% Senior Notes due 2027
|
| | | | 599 | | | | | | 599 | | |
|
1.00% Senior Notes due 2028 – Euro
|
| | | | 763 | | | | | | 763 | | |
|
4.10% Senior Notes due 2028
|
| | | | 399 | | | | | | 399 | | |
|
4.20% Senior Notes due 2029
|
| | | | 795 | | | | | | 795 | | |
|
4.55% Senior Notes due 2030
|
| | | | 646 | | | | | | 646 | | |
|
3.20% Senior Notes due 2031
|
| | | | 561 | | | | | | 561 | | |
|
2.75% Senior Notes due 2031
|
| | | | 994 | | | | | | 994 | | |
|
5.25% Senior Notes due 2032
|
| | | | 306 | | | | | | 306 | | |
|
4.80% Senior Notes due 2033
|
| | | | 495 | | | | | | 495 | | |
|
4.65% Senior Notes due 2034
|
| | | | 792 | | | | | | 792 | | |
|
5.15% Senior Notes due 2035
|
| | | | 644 | | | | | | 644 | | |
|
5.15% Senior Notes due 2036
|
| | | | 694 | | | | | | 694 | | |
|
Notes offered hereby
|
| | | | — | | | | | | 600 | | |
|
Cumulative adjustments to long-term debt from application of hedge
accounting |
| | | | (216) | | | | | | (216) | | |
|
Other long-term debt
|
| | | | 212 | | | | | | 212 | | |
|
Subtotal
|
| | | | 10,626 | | | | | | 11,226 | | |
|
Less: Current portion of long-term debt
|
| | | | (1,200) | | | | | | (1,200) | | |
|
Total long-term debt(6)
|
| | | | 9,426 | | | | | | 10,026 | | |
|
Total debt
|
| | | | 15,214 | | | | | | 15,814 | | |
| | | |
As of June 30, 2026
|
| |||||||||
| | | |
Actual
|
| |
As adjusted(1)
|
| ||||||
| | | |
(U.S. dollars in millions)
|
| |||||||||
| Shareholders’ equity: | | | | | | | | | | | | | |
|
Registered Shares – $0.01 par value
|
| | | | | | | | | | | | |
|
33,632,445 shares authorized not issued; 32,285,894 shares conditionally authorized; 192,106,786 shares issued and outstanding, actual and as
adjusted |
| | | | 2 | | | | | | 2 | | |
|
Additional paid-in capital
|
| | | | 9,838 | | | | | | 9,838 | | |
|
Retained earnings
|
| | | | 13,339 | | | | | | 13,339 | | |
|
Accumulated other comprehensive loss
|
| | | | (6,014) | | | | | | (6,014) | | |
|
Treasury shares, at cost
|
| | | | (1,212) | | | | | | (1,212) | | |
|
Total shareholders’ equity
|
| | | | 15,953 | | | | | | 15,953 | | |
|
Total capitalization
|
| | | $ | 31,167 | | | | | $ | 31,767 | | |
| | |||||||||||||
|
Underwriters
|
| |
Principal
Amount of Notes |
| |||
|
Wells Fargo Securities, LLC
|
| | | $ | 60,000,000 | | |
|
BofA Securities, Inc.
|
| | | | 60,000,000 | | |
|
Mizuho Securities USA LLC
|
| | | | 60,000,000 | | |
|
Rabo Securities USA, Inc.
|
| | | | 60,000,000 | | |
|
Deutsche Bank Securities Inc.
|
| | | | 60,000,000 | | |
|
ING Financial Markets LLC
|
| | | | 60,000,000 | | |
|
SMBC Nikko Securities America, Inc.
|
| | | | 60,000,000 | | |
|
Academy Securities, Inc.
|
| | | | 9,000,000 | | |
|
BBVA Securities Inc.
|
| | | | 9,000,000 | | |
|
BMO Capital Markets Corp.
|
| | | | 9,000,000 | | |
|
BNP Paribas Securities Corp.
|
| | | | 9,000,000 | | |
|
Citigroup Global Markets Inc.
|
| | | | 9,000,000 | | |
|
Commerz Markets LLC
|
| | | | 9,000,000 | | |
|
Commonwealth Bank of Australia
|
| | | | 9,000,000 | | |
|
Credit Agricole Securities (USA) Inc.
|
| | | | 9,000,000 | | |
|
HSBC Securities (USA) Inc.
|
| | | | 9,000,000 | | |
|
J.P. Morgan Securities LLC
|
| | | | 9,000,000 | | |
|
Natixis Securities Americas LLC
|
| | | | 9,000,000 | | |
|
Oversea-Chinese Banking Corporation Limited
|
| | | | 9,000,000 | | |
|
Santander US Capital Markets LLC
|
| | | | 9,000,000 | | |
|
Scotia Capital (USA) Inc.
|
| | | | 9,000,000 | | |
|
Standard Chartered Bank
|
| | | | 9,000,000 | | |
|
U.S. Bancorp Investments, Inc.
|
| | | | 9,000,000 | | |
|
ANZ Securities, Inc.
|
| | | | 3,000,000 | | |
|
DZ Financial Markets LLC
|
| | | | 3,000,000 | | |
|
Goldman Sachs & Co. LLC
|
| | | | 3,000,000 | | |
|
ICBC Standard Bank Plc
|
| | | | 3,000,000 | | |
|
Loop Capital Markets LLC
|
| | | | 3,000,000 | | |
|
Mischler Financial Group, Inc.
|
| | | | 3,000,000 | | |
|
PNC Capital Markets LLC
|
| | | | 3,000,000 | | |
|
RBC Capital Markets, LLC
|
| | | | 3,000,000 | | |
|
RB International Markets (USA) LLC
|
| | | | 3,000,000 | | |
|
SEB Securities, Inc.
|
| | | | 3,000,000 | | |
|
SG Americas Securities, LLC
|
| | | | 3,000,000 | | |
|
Westpac Capital Markets LLC
|
| | | | 3,000,000 | | |
| Total | | | | $ | 600,000,000 | | |
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Investor Relations
(314) 292-2000
BUNGE GLOBAL SA
BUNGE LIMITED FINANCE CORP.
and
BUNGE FINANCE EUROPE B.V.
fully, unconditionally and irrevocably guaranteed by Bunge Global SA
| | | |
Page
|
| |||
|
RISK FACTORS
|
| | | | 1 | | |
|
FORWARD LOOKING STATEMENTS
|
| | | | 1 | | |
|
ABOUT THIS PROSPECTUS
|
| | | | 2 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
|
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
|
| | | | 2 | | |
|
ABOUT BUNGE GLOBAL SA
|
| | | | 3 | | |
|
ABOUT BUNGE LIMITED FINANCE CORP.
|
| | | | 5 | | |
|
ABOUT BUNGE FINANCE EUROPE B.V.
|
| | | | 5 | | |
|
USE OF PROCEEDS
|
| | | | 5 | | |
|
DESCRIPTION OF SHARE CAPITAL
|
| | | | 6 | | |
|
DESCRIPTION OF DEBT SECURITIES
|
| | | | 16 | | |
|
BOOK ENTRY, DELIVERY AND FORM
|
| | | | 19 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 22 | | |
|
LEGAL MATTERS
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EXPERTS
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1391 Timberlake Manor Parkway
Chesterfield, Missouri, 63017
Attention: Investor Relations
(636) 292-3914