Key Developments: Bunge Ltd (BGEPF.PK)
103.05USD
18 Jun 2013
$0.30 (+0.29%)
$102.75
$102.00
$103.05
$102.00
843
24,951
$110.85
$92.05
Latest Key Developments (Source: Significant Developments)
Bunge Ltd Increases Quarterly Dividend on Common Shares and Declares Dividends on Preference Shares
Bunge Ltd announced that Board of Directors has approved an increase in the company's regular quarterly cash dividend, from $0.27 to $0.30 per common share. The new dividend is payable on September 3, 2013, to shareholders of record on August 20, 2013. The Company also declared a quarterly cash dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares, payable on September 1, 2013, to shareholders of record on August 15, 2013. Full Article
Bunge Ltd Declares Dividends on Common and Preference Shares
Bunge Ltd announced that its Board of Directors has declared a regular quarterly cash dividend of $0.27 per common share. The dividend is payable on June 3, 2013 to shareholders of record on May 20, 2013. The Company also declared a quarterly cash dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares, payable on June 1, 2013 to shareholders of record on May 15, 2013. Full Article
Bunge Ltd Announces Succcession Of Chief Executive Officer, Appoints Chairman
Bunge Ltd announced that Alberto Weisser will retire as Chief Executive Officer (CEO) effective June 1, 2013. The Board of Directors has appointed Soren Schroder, currently CEO of Bunge North America, to succeed Mr. Weisser as CEO of the Company, and expects Mr. Schroder to become a director before June 1. The Board also appointed Mr. Weisser as Executive Chairman, serving until December 31, 2013. Full Article
Bunge Ltd To Sell Brazilian Fertilizer Business To Yara International ASA; Announces Long Term Fertilizer Supply Agreement
Bunge Ltd announced that it has entered into a definitive agreement with Yara International ASA under which Yara will acquire Bunge's Brazilian fertilizer business, including blending facilities, brands and warehouses, for $750 million in cash. Bunge and Yara have also agreed to enter into a long-term fertilizer supply agreement, enabling Bunge to continue to supply fertilizer to farmers as part of grain origination activities and creating a framework for logistics and other commercial activities related to fertilizer sales. Bunge will retain and continue to operate fertilizer terminal in the Port of Santos, Brazil. The transaction, is expected to close in the second half of 2013. Credit Suisse acted as Bunge's financial advisor in the transaction. Bunge's legal advisors were Souza Cescon Barrieu & Flesch Advogados and Shearman & Sterling LLP. Full Article
Bunge Ltd Announces Expansion And Extension Of Share Repurchase Program
Bunge Ltd announced that its Board of Directors has approved a $275 million increase in the size of its existing share repurchase program. Additionally, the share repurchase program, which was scheduled to expire on December 31, 2012, was extended for an indefinite period. As of September 30, 2012, Bunge had repurchased approximately $474 million of its common shares under the share repurchase program, leaving an available balance of approximately $500 million under the expanded program for future share repurchases. Full Article
Bunge Ltd Declares Dividends On Common And Preference Shares
Bunge Ltd announced that its Board of Directors has declared a regular quarterly cash dividend of $0.27 per common share. The dividend is payable on March 4, 2013 to shareholders of record on February 15, 2013. The Company also declared a quarterly cash dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares, payable on March 1, 2013 to shareholders of record on February 15, 2013. Full Article
Bunge Limited Declares Dividends on Common and Preference Shares
Bunge Limited announced that it has declared a regular quarterly cash dividend of $0.27 per common share. The dividend is payable on December 3, 2012 to shareholders of record on November 19, 2012. The company also declared a quarterly cash dividend of $1.21875 per share on its 4.875% cumulative convertible perpetual preference shares, payable on December 1, 2012 to shareholders of record on November 15, 2012. Full Article
Bunge Limited Announces Pricing of Senior Notes Offering
Bunge Limited announced that Bunge Limited Finance Corp., its wholly owned finance subsidiary, has priced a public offering of $600 million aggregate principal amount of 3.20% senior notes due 2017. The senior notes will be guaranteed by Bunge Limited. The offering was made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission. The transaction is expected to close on June 15, 2012. Bunge Limited intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, the repayment of outstanding indebtedness, which includes indebtedness under its revolving credit facilities. J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and BNP Paribas Securities Corp. are acting as joint book-running managers for the offering. HSBC Securities (USA) Inc., Rabo Securities USA, Inc., RBS Securities Inc. and Standard Chartered Bank are acting as senior co-managers, and ING Financial Markets LLC, Lloyds Securities Inc., Mizuho Securities USA Inc., Natixis Securities Americas LLC, SMBC Nikko Capital Markets Limited and SG Americas Securities, LLC are acting as co-managers. Full Article
Bunge Limited Completes Acquisition Of Climate Change Capital
Bunge Limited and Climate Change Capital Limited(CCC) announced that Bunge has completed its previously announced acquisition of 100% of Climate Change Capital Group Limited (CCCG), the parent company of CCC. Full Article
Bunge Limited Purchases Assets Of MCN BioProducts
Bunge Limited announced that it has purchased substantially all of the assets, including the patent portfolio, of MCN BioProducts Inc., a privately-held Canadian technology company. Financial terms of the transaction were not disclosed. Assets purchased include intellectual property related to the conversion of canola and rapeseed meals into nutritionally dense protein concentrates that can replace both fish meal and vegetable protein concentrates in animal diets, including aquaculture. Full Article
Fitch Affirms Bunge's IDRs at 'BBB'; Outlook Revised to Stable
(The following statement was released by the rating agency) CHICAGO, May 24 (Fitch) Fitch Ratings has affirmed the ratings for Bunge Limited (Bunge) and its financing subsidiaries, which carry full guarantees from Bunge, as follows: Bunge Limited --Long-term Issuer Default Rating (IDR) at 'BBB'; --Preference shares at 'BB+'. Bunge Limited Finance Corp. (BLFC) --Long-term IDR at 'BBB'; --Senior unsecured notes at 'BBB'; --Senior unsecured term loans at 'BBB'; --Senior unsecured credit facili
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