[8-K] Bunge Global SA Reports Material Event

Rhea-AI Filing Summary

Bunge Global SA (NYSE: BG) filed an 8-K to report the expiration and final results of a series of debt Exchange Offers and related Consent Solicitations conducted by its wholly-owned subsidiary, Bunge Limited Finance Corp. (BLFC).

• Scope: The offers covered any and all of Viterra Finance B.V.’s outstanding 2.000% 2026, 4.900% 2027, 3.200% 2031 and 5.250% 2032 notes (collectively, “Existing Viterra Notes”).
• Consideration: Holders were eligible to receive up to US$1.95 billion aggregate principal of new BLFC notes (guaranteed by Bunge) plus cash.
• Indenture Amendments: Consents sufficient to strip certain covenants, restrictive provisions and events of default, and to release Viterra guarantees, were obtained by the early tender deadline of 20 Sep 2024; supplemental indentures were signed 23 Sep 2024 and will become operative at settlement.
• Timing: Exchange Offers expired at 5:00 p.m. (NYC) on 3 Jul 2025; settlement is expected 8 Jul 2025.
• Condition precedent satisfied: Bunge closed its acquisition of Viterra on 2 Jul 2025, fulfilling the principal condition for the offers.

The transaction streamlines the capital structure inherited from Viterra, migrates the debt stack to Bunge’s financing platform and removes legacy covenant restrictions, positioning the combined entity for operational integration. Forward-looking statements and customary legal disclaimers are included. Exhibit 99.1 contains the detailed press release.

Positive

• Successful acquisition close of Viterra on 2 Jul 2025, satisfying a key condition for the exchange offers.
• Consummation of US$1.95 billion exchange offers simplifies debt structure and adds Bunge guarantees.
• Removal of restrictive covenants and events of default via supplemental indentures increases financial flexibility.

Negative

• Issuance of new BLFC notes introduces ongoing debt service obligations directly guaranteed by Bunge, potentially increasing exposure should integration synergies underperform.

Insights

Credit Analyst

TL;DR: Successful exchange reduces covenant burden and aligns Viterra debt under Bunge, broadly credit-neutral to slightly positive.

The completion of the exchange offers and corresponding consent solicitations:

• Sweeps US$1.95 billion of Viterra legacy notes into the Bunge capital stack, providing uniform documentation and Bunge guarantees.
• Eliminates restrictive covenants and events of default, thereby improving financial flexibility.
• Because the transaction is principally an exchange, net leverage should remain largely unchanged; no incremental cash outlay beyond modest cash consideration is disclosed.
• Settlement risk appears minimal given the Viterra acquisition closed on 2 Jul 2025 and all conditions are satisfied.

Overall, the event is credit-positive due to simplification and covenant relief, warranting a rating of +1.

M&A Specialist

TL;DR: Debt exchange finalizes financing leg of Viterra deal, easing post-merger integration.

From an integration perspective, migrating Viterra’s bonds to BLFC consolidates liabilities under a single issuer, removes dual guarantees and aligns bondholder interests directly with Bunge. This step often accelerates synergy capture by allowing unified treasury operations. The fact that consents were obtained last year indicates strong bondholder support and mitigates execution risk. Settlement on 8 Jul 2025 will mark the last outstanding structural condition related to the US$1.95 billion exchange, after which management can focus on operational synergies. No adverse disclosures were made, so the impact for shareholders is modestly positive.

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 7, 2025

Date of Report (date of earliest event reported)

___________________________________

BUNGE GLOBAL SA

(Exact name of registrant as specified in its charter)

___________________________________

Switzerland

(State of Incorporation)

000-56607 (Commission File Number)						98-1743397 (IRS Employer Identification Number)
Route de Florissant 13, 1206 Geneva, Switzerland						N.A.
(Address of principal executive offices and zip code)						(Zip Code)
1391 Timberlake Manor Parkway Chesterfield, MO						63017
(Address of corporate headquarters )						(Zip Code)
(314) 292-2000
(Registrant's telephone number, including area code)
N.A.
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class			Trading Symbol			Name of each exchange on which registered
Registered Shares, $0.01 par value per share			BG			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

On July 7, 2025, Bunge Global SA (NYSE: BG) (“Bunge”) announced the expiration and final results of the previously announced (A) offers to exchange (each an “Exchange Offer” and, collectively the “Exchange Offers”) by its wholly-owned subsidiary, Bunge Limited Finance Corp. (“BLFC”), of any and all outstanding 2.000% Notes due 2026 (the “Existing Viterra 2026 Notes”), 4.900% Notes due 2027 (the “Existing Viterra 2027 Notes”), 3.200% Notes due 2031 (the “Existing Viterra 2031 Notes”) and 5.250% Notes due 2032 (the “Existing Viterra 2032 Notes”, and together with the Existing Viterra 2026 Notes, the Existing Viterra 2027 Notes, and the Existing Viterra 2031 Notes, collectively, the “Existing Viterra Notes”), each series as issued by Viterra Finance B.V. (“VFBV”) and guaranteed by Viterra Limited (“Viterra”) and Viterra B.V., for (1) up to $1.95 billion aggregate principal amount of new notes to be issued by BLFC and guaranteed by Bunge, and (2) cash; and (B) related solicitations of consents by BLFC, on behalf of VFBV (each a “Consent Solicitation” and, collectively, the “Consent Solicitations”) from Eligible Holders (as defined below) of the (1) Existing Viterra 2026 Notes and the Existing Viterra 2031 Notes to amend the VFBV base indenture dated April 21, 2021, governing the Existing Viterra 2026 Notes and the Existing Viterra 2031 Notes (the “Existing Viterra 2026 and 2031 Notes Indenture”); and (2) Existing Viterra 2027 Notes and the Existing Viterra 2032 Notes to amend the VFBV base indenture dated April 21, 2022, governing the Existing Viterra 2027 Notes and the Existing Viterra 2032 Notes (the “Existing Viterra 2027 and 2032 Notes Indenture”, and with the Existing Viterra 2026 and 2031 Notes Indenture, each an “Existing Viterra Indenture” and collectively, the “Existing Viterra Indentures”).

On the early tender date and consent revocation deadline of September 20, 2024, BLFC received consents sufficient to amend the respective Existing Viterra Indentures to, among other things, eliminate certain of the covenants, restrictive provisions and events of default and modify or amend certain other provisions, including unconditionally releasing and discharging the guarantees by each of Viterra and Viterra B.V. (with respect to the corresponding Existing Viterra Indenture for that series and, together, as the context requires, the “Proposed Amendments”). Supplemental indentures to the Existing Viterra Indentures were executed on September 23, 2024 in order to effect the Proposed Amendments (each an “Existing Viterra Supplemental Indenture” and collectively, the “Existing Viterra Supplemental Indentures”). The Existing Viterra Supplemental Indentures will become operative only upon the settlement date for the Exchange Offers and the Consent Solicitations.

The Exchange Offers expired at 5:00 p.m., New York City time, on July 3, 2025 (the “Expiration Date”), and no tenders submitted after the Expiration Date are valid.

Each Exchange Offer and Consent Solicitation was made subject to the satisfaction of certain conditions, including among other things, the consummation of Bunge’s acquisition (the “Business Combination”) of Viterra. On July 2, 2025, Bunge completed the Business Combination and all other conditions set forth in the offering memorandum and consent solicitation statement dated September 9, 2024 (the “Statement”) were satisfied. The settlement of the Exchange Offers and Consent Solicitations are expected to occur on July 8, 2025.

A copy of the press release announcing the expiration and final results of the Exchange Offers and Consent Solicitations is attached hereto as Exhibit 99.1, and the information contained therein is incorporated herein by reference.

This Form 8-K is not intended to and does not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of any vote of approval or the solicitation of tenders or consents with respect to any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward-looking statements, which include those related to BLFC’s ability to consummate the Exchange Offers and the Consent Solicitations, Bunge’s ability to generate sufficient cash flows to service debt and other obligations and ability to access capital, including debt or equity, and Bunge’s ability to achieve the benefits contemplated by the Exchange Offers and the Consent Solicitations, are subject to a number of risks, uncertainties and other factors that

could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, which are described in our Securities and Exchange Commission ("SEC") filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Regarding Forward Looking Statements" in our most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which we filed on February 20, 2025, and “Part II – Item 1A. Risk Factors” in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025, filed with the SEC on May 7, 2025. You are cautioned not to place undue reliance on Bunge’s forward-looking statements. The forward-looking statements included in this Current Report on Form 8-K are made only as of the date of this Current Report on Form 8-K, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

Item 9.01 Financial Statements and Exhibits

(d):     Exhibits.

Exhibit No.						Description
99.1						Press Release of Bunge, dated July 7, 2025, related to the Exchange Offers and Consent Solicitations
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 7, 2025

BUNGE GLOBAL SA
By:			/s/Lisa Ware-Alexander
Name:			Lisa Ware-Alexander
Title:			Secretary

FAQ

What did Bunge Global SA (BG) announce in its 8-K dated 7 Jul 2025?

BG reported the expiration and final results of exchange offers for Viterra’s outstanding notes totaling up to US$1.95 billion and related consent solicitations.

Which Viterra notes were targeted in the exchange offers?

The offers covered the 2.000% 2026, 4.900% 2027, 3.200% 2031 and 5.250% 2032 notes issued by Viterra Finance B.V.

When did the exchange offers expire and when will they settle?

They expired at 5:00 p.m. (NYC) on 3 Jul 2025; settlement is expected on 8 Jul 2025.

Why were consent solicitations needed?

Consents allowed amendments to existing indentures, stripping covenants and releasing Viterra guarantees to align with Bunge’s capital structure.

Was completion of Bunge’s acquisition of Viterra a condition for the exchange offers?

Yes. The acquisition closed on 2 Jul 2025, satisfying that key condition.