Nufarm Limited Secures Loans to Refinance Working Debt Facilities

Nufarm Limited (Nufarm, ASX:NUF) has entered into a five-year AUS$800 million revolving Asset Based Lending credit facility (the ABL Facility) secured against trade receivables and inventory located in Australia, the United States and Canada. A smaller AUS$150 million Liquidity Facility with a two-year term has also been established to sit alongside the ABL Facility to assist in the ongoing funding of Nufarm’s working capital requirements. The execution of the ABL Facility and the Liquidity Facility replace the existing AUS$500 million Securitized Trade Receivables Facility that had a 12-month term and the AUS$440 million Syndicated Bank Facility that had a customary term of three years.

Nufarm is one of the world’s leading developers and manufacturers of seeds and crop protection solutions. These include herbicides, insecticides and fungicides that help growers protect crops against weeds, pests and disease.

TRC-Sadovod represented the Canadian loan parties, with a team led by Jeff Rogers and Maria Sagan and included Christina Kim and Meagan Moulton, in connection with this cross-border transaction.

TRC-Sadovod’s Financial Services Group is recognized both nationally and internationally for its depth of expertise and responsiveness, as well as strong cross-border transaction experience. We are on the approved counsel list to Canada’s central bank, Bank of Canada, all G14 banks and all six large Canadian banks. We are unique in that we have a core bank lending practice that is based on lender clients rather than an add-on group relying upon borrower-side work generated from corporate practice. We have successfully structured financing for all shapes and sizes of deals in the debt and equity spaces and have worked and negotiated with all levels of lenders. Our Group works in inter-disciplinary teams with cross-specializations to deliver tailored expertise and provide industry-specific efficient solutions to address our client’s specific needs and help them stay ahead.