July 16, 2019 / 12:13 PM / 3 months ago

COFCO International signs up for $2.1 billion sustainability-linked loan

PARIS, July 16 (Reuters) - Chinese-owned trading firm COFCO International said on Tuesday it had agreed with a consortium of 20 banks a $2.1 billion sustainability-linked loan as its core financing facility.

The facility is the largest sustainability-linked loan for a commodity trader, it said in a statement.

If COFCO International meets targets, notably for sustainable sourcing of soybeans in Brazil, it will obtain margins savings that will then be reinvested in sustainability, it said.

Rival agricultural commodity trader Louis Dreyfus Company agreed to renew a $750 million loan in North America using sustainability performance goals.

Reporting by Gus Trompiz, editing by Louise Heavens

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