Cargill arranges $1.25B loan from international banks

April 4, 2012 at 2:33AM

Cargill Inc. has positioned itself to borrow up to $1.25 billion for unspecified uses.

The company said the funds represent the renewal of an existing "revolving credit facility" established a year ago, and that it would be "drawn upon if needed."

The new credit arrangement is through a group of 26 banks, and the amount was increased from an initial goal of borrowing $1 billion. The loan terms are good for 364 days.

The Wayzata-based agricultural giant is the world's largest privately owned company, and its operations and business interests circle the globe. The lenders for the $1.25 billion loan reflect Cargill's international nature. They include Australia and New Zealand Banking Group., the Bank of Tokyo-Mitsubishi, Deutsche Bank, Royal Bank of Scotland Group, Arab Bank, Lloyds Banking Group and Oversea-Chinese Banking Corp.

STEVE ALEXANDER

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Steve Alexander

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