ED&F Man Said to Begin Talks on $1.8 Billion Loan RefinancingStephen Morris
ED&F Man Holdings Ltd., an agricultural commodities trader, is said to have started negotiations with banks to refinance two loans totaling about $1.8 billion.
The privately-owned company is seeking to replace a $1.2 billion credit line and a $582 million revolving credit facility, according to two people with direct knowledge of the deal, who asked not to be identified as the transactions are private. The facilities mature before the end of March, according to data compiled by Bloomberg.
London-based ED&F Man, which trades sugar, molasses and coffee, has yet to appoint banks to arrange the facility, the people said. The revolving credit is expected to be syndicated to other lenders at the beginning of February, they said. Under a revolver, money repaid can be borrowed again.
A company official, who asked not to be identified, declined to comment on the financing.