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Corn Products International Enters into New Three-Year, $1 Billion Senior Unsecured Revolving Credit Agreement


Corn Products International Enters into New Three-Year, $1 Billion Senior Unsecured Revolving Credit Agreement

Date:03 Sep 2010

Type:Business News

Source:Food Ingredients First

Sector:General Company & Ingredient Information

Summary:The Company also entered into a 364-day, $1.35 billion bridge term loan credit facility pursuant to a previously disclosed commitment letter, which facility is available to finance the National Starch acquisition and related expenses.

Sep 3 2010 --- Corn Products International, Inc. has entered into a new three-year, senior unsecured $1 billion revolving credit facility available for general corporate purposes. This replaces the Company's existing $500 million senior unsecured revolving credit facility which would have matured April 26, 2013.
 
The Company also entered into a 364-day, $1.35 billion bridge term loan credit facility pursuant to a previously disclosed commitment letter, which facility is available to finance the National Starch acquisition and related expenses.

Corn Products International is a major supplier of high-quality food ingredients and industrial products derived from the processing starch-based materials. The Company, headquartered in Westchester, Ill., is a leading worldwide producer of dextrose and a major regional producer of starches, sweeteners and other ingredients. In 2009, Corn Products International reported net sales of $3.67 billion, with operations in 13 countries at 28 plants, including wholly owned businesses, affiliates and alliances.

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