Linklaters advises Barry Callebaut on €2bn sustainability-linked borrowing base financing facility

Linklaters has advised Barry Callebaut AG on its inaugural €2 bn sustainability-linked revolving borrowing base financing facility, including € 250m swingline facility. The flexible financing framework is structured in three tranches and secured by the company’s inventory in Belgium, France, Germany, the US and Canada.

Tailored specifically to support the group’s global cocoa and chocolate supply chain, the financing solution marks an important milestone in the diversification of the company’s funding sources and the alignment of its financing strategy with its sustainability objectives.

Barry Callebaut is one of the world’s leading manufacturers of high-quality chocolate and cocoa products, from sourcing and processing cocoa beans to producing premium chocolates, including chocolate fillings, decorations and compounds. Headquartered in Zurich, the company operates more than 60 production facilities worldwide and employs over 13,000 people. Barry Callebaut has committed to sourcing all its ingredients sustainably by 2030.

Linklaters advised on the transaction with an international team led by Michal Hlásek (Partner, Banking, Frankfurt). The team also included Brussels-based Partner Laurens Cools; Counsels Fabian Neumeier (Frankfurt) and Lauren Hanley (Paris); Managing Associates Alexandra Selezneva (Frankfurt), Elizabeth Lane (New York) and Sara Ben Othmen (Brussels); and Associates Pierre-Antoine Vassaux (Paris), Matthew Bopp (New York) and Philipp Bergjans (Frankfurt).