DEBT

9 Months Ended

Sep. 30, 2025

The following table summarizes Bunge's short and long-term debt:


(US$ in millions)	September 30, 2025		December 31, 2024
Short-term debt and Current portion of long-term debt:
Revolving credit facilities	$	—	$	—





Commercial paper (1)	2,295		—
Other short-term debt	2,151		875
Total Short-term debt	4,446		875
Current portion of long-term debt	1,334		669
Total Short-term debt and Current portion of long-term debt (2)	5,780		1,544
Long-term debt: (3)



Term loan due 2027 - SOFR plus 1.000%	250		250
Term loan due 2028 - SOFR plus 1.200%	250		250
Term loan due 2028 - SOFR plus 1.100% (4)	300		—
Term loan due 2028 - SOFR plus 1.100% (4)	2,000		—
1.63% Senior Notes due 2025	—		599
2.00% Senior Notes due 2026 (4)	572		—
3.25% Senior Notes due 2026	699		699
4.90% Senior Notes due 2027 (4)	443		—
3.75% Senior Notes due 2027	599		598
1.00% Senior Notes due 2028 - Euro (4)	775		—
4.10% Senior Notes due 2028 (4)	398		397
4.20% Senior Notes due 2029 (4)	794		793
4.55% Senior Notes due 2030 (4)	645		—
3.20% Senior Notes due 2031 (4)	556		—
2.75% Senior Notes due 2031	993		993
5.25% Senior Notes due 2032 (4)	307		—
4.65% Senior Notes due 2034 (4)	791		790
5.15% Senior Notes due 2035 (4)	643		—
Cumulative adjustment to long-term debt from application of hedge accounting	(112)		(269)
Other long-term debt	240		263
Subtotal (5)	11,143		5,363
Less: Current portion of long-term debt	(1,334)		(669)
Total Long-term debt (6)	9,809		4,694
Total debt	$	15,589	$	6,238

(1) On September 3, 2025, Bunge increased the aggregate size of its existing unsecured corporate commercial paper program by $1.0 billion, from $2.0 billion, to an aggregate of $3.0 billion.

(2) Includes secured debt of $645 million and $187 million at September 30, 2025, and December 31, 2024, respectively.

(3) Variable interest rates are as of September 30, 2025.

(4) See Viterra Acquisition Financing section within Note 13 - Debt below for further details.

(5) The fair value (Level 2) of long-term debt, including current portion, is $11,167 million and $5,373 million at September 30, 2025, and December 31, 2024, respectively. The fair value of Bunge's long-term debt is calculated based on interest rates currently available on comparable maturities to companies with credit standing similar to that of Bunge.

(6) Includes secured debt of $118 million and $131 million at September 30, 2025, and December 31, 2024, respectively.

Updates to Revolving Credit Facilities

On October 3, 2025, Bunge entered into an unsecured $4.2 billion 5-year revolving credit agreement (the "$4.2 Billion Revolving Credit Agreement") with a group of lenders, maturing on October 3, 2030. Bunge may from time-to-time request one or more of the existing or new lenders to increase the total participations by an aggregate amount up to $1.5 billion, pursuant to an accordion provision. Borrowings will bear interest at Bunge's option, at SOFR plus a margin or the Euribor Rate plus a margin. The $4.2 Billion Revolving Credit Agreement replaced an existing $3.2 billion 5-year revolving credit agreement (the "Terminated $3.2 Billion Revolving Credit Agreement") which was terminated on October 3, 2025. Bunge had no borrowings outstanding at September 30, 2025 under the Terminated $3.2 Billion Revolving Credit Agreement.

On October 3, 2025, Bunge entered into an unsecured $3.5 billion 3-year revolving agreement (the "$3.5 Billion Revolving Agreement") with a group of lenders, maturing on October 3, 2028. Bunge may from time-to-time request one or more of the existing or new lenders to increase the total participations by an aggregate amount up to $1.5 billion, pursuant to an accordion provision. Borrowings will bear interest at SOFR plus a SOFR adjustment, which will vary from 0.05% to 0.25% based on the tenor of the interest period selected, plus a margin, which will vary from 0.20% to 0.55%, based on the Rating Level provided by Moody's and S&P. The $3.5 Billion Revolving Agreement replaced an existing $3.5 billion 3-year revolving agreement (the "Terminated $3.5 Billion Revolving Agreement") which was terminated on October 3, 2025. Bunge had no borrowings outstanding at September 30, 2025 under the Terminated $3.5 Billion Revolving Agreement.

On October 3, 2025, Bunge entered into an unsecured $1.1 billion 364-day revolving credit agreement (the "$1.1 Billion 364-Day Revolving Credit Agreement") with a group of lenders, maturing on October 2, 2026. Bunge may from time-to-time request one or more of the existing or new lenders to increase the total participations by an aggregate amount up to $250 million, pursuant to an accordion provision. Borrowings will bear interest at SOFR plus a margin. The $1.1 Billion 364-Day Revolving Credit Agreement replaced an existing $1.1 billion 364-day revolving credit agreement (the "Terminated $1.1 Billion 364-Day Revolving Credit Agreement") which was terminated on October 3, 2025. Bunge had no borrowings outstanding at September 30, 2025 under the Terminated $1.1 Billion 364-Day Revolving Credit Agreement.

On October 3, 2025 Bunge amended and restated the $865 million revolving credit facility (the "$865 Million Revolving Loan Facility") with a group of lenders, resulting in an extension of the maturity date from October 29, 2026 to October 3, 2030. Borrowings will bear interest at SOFR plus an applicable margin. Bunge had no borrowings outstanding at September 30, 2025 under the $865 Million Revolving Loan Facility.

Viterra Acquisition Financing

In connection with the execution of the Business Combination Agreement, Bunge and Bunge Limited Finance Corp. ("BLFC") previously entered into a debt commitment letter (the “Initial Debt Commitment Facility”) with Sumitomo Mitsui Banking Corporation and a consortium of lenders (the "Lenders"), pursuant to which the Lenders committed to provide Bunge with $7.7 billion of unsecured term loans, which included tranches maturing 364 days, 2 years and 3 years from one business day prior to the closing date of the Acquisition. Additionally, a $300 million delayed draw term loan (the “Delayed Draw Term Loan”) from CoBank and the U.S. farm credit system was arranged.

In connection with the Acquisition, on June 30, 2025, Bunge (i) borrowed $2.0 billion under the 3-year tranche term loan of the Initial Debt Commitment Facility (the "Term Loan due 2028"), and (ii) borrowed $300 million under the Delayed Draw Term Loan (such borrowings, collectively, the "Term Loan Borrowings"). The Term Loan Borrowings were used, along with existing Cash and cash equivalents and proceeds from other sources, to fund a portion of the cash consideration for Bunge’s Acquisition of Viterra and to repay a portion of certain Viterra debt settled at the closing of the Acquisition, including, in each case, related fees and expenses, and, with any remaining amounts, for general corporate purposes. On October 29, 2025, Bunge repaid $1.0 billion of the $2.0 billion Term Loan due 2028 using proceeds from borrowings under other corporate credit facilities, including the corporate commercial paper program.

Senior Notes - On September 17, 2024, Bunge completed the sale and issuance of (i) $400 million aggregate principal amount of 4.100% senior notes due 2028, (ii) $800 million aggregate principal amount of 4.200% senior notes due 2029, and (iii) $800 million aggregate principal amount of 4.650% senior notes due 2034 ("Senior Notes"). Collectively, the three tranches of Senior Notes total an aggregate principal amount of $2.0 billion. The Senior Notes are fully and unconditionally guaranteed by Bunge. The offering was made pursuant to a shelf registration statement on Form S-3 (Registration No. 333-282003) filed by the Company and its 100% owned finance subsidiary, BLFC, with the SEC. The net proceeds of the offering were approximately $1.98 billion after deducting underwriting commissions, the original issue discount, and offering fees and expenses payable by Bunge.

On August 4, 2025, Bunge completed the sale and issuance of (i) $650 million aggregate principal amount of 4.550% senior notes due 2030, and (ii) $650 million aggregate principal amount of 5.150% senior notes due 2035 ( (i) and (ii) together, the"2025 Senior Notes"). Collectively, the two tranches of the 2025 Senior Notes total an aggregate principal amount of

$1.3 billion. The 2025 Senior Notes are fully and unconditionally guaranteed by Bunge. The offering was made pursuant to a shelf registration statement on Form S-3 (Registration No. 333-282003) filed by the Company and its 100% owned finance subsidiary, BLFC, with the SEC. The net proceeds of the offering were approximately $1.29 billion after deducting underwriting commissions, the original issue discount, and offering fees and expenses payable by Bunge.

Exchange Offers and Consent Solicitations of Viterra Notes - On September 9, 2024, Bunge's wholly-owned subsidiary, BLFC, commenced offers (the "US Exchange Offers") to exchange all outstanding notes of certain series (the "Existing USD Viterra Notes") issued by Viterra Finance B.V. ("VFBV") and guaranteed by Viterra and Viterra B.V., for up to $1.95 billion aggregate principal amount of new notes issued by BLFC and guaranteed by Bunge. In the third quarter of 2025, BLFC completed the US Exchange Offers, exchanging $1.92 billion of Existing USD Viterra Notes for new notes with the same interest rates and maturities issued by BLFC.

Concurrently with the US Exchange Offers, BLFC successfully solicited consents, on behalf of VFBV, and VFBV amended the respective indentures governing the Existing USD Viterra Notes to, among other things, eliminate certain of the covenants, restrictive provisions and events of default, and modify or amend certain other provisions, including unconditionally releasing and discharging the guarantees by each of Viterra and Viterra B.V. ("US Consent Solicitation").

In addition, in the third quarter of 2025, Bunge completed the amendment of the indentures governing VFBV's outstanding 500 million Euro aggregate principal amount of 0.375% senior unsecured notes due 2025 (the "0.375% Senior Notes Due 2025 - Euro") and outstanding 700 million Euro aggregate principal amount of 1.000% senior unsecured notes due 2028 (collectively, the "Existing Euro Viterra Notes") to, among other things, substitute the issuer and guarantors of such notes with Bunge Finance Europe B.V., a wholly owned finance subsidiary of Bunge, as issuer, and Bunge as guarantor (the "European Consent Solicitation"). The 0.375% Senior Note Due 2025 - Euro were fully repaid in accordance with the terms of the agreement in September 2025.

The US Exchange Offers, US Consent Solicitation, and European Consent Solicitation were conditioned, among other things, upon the completion of the Acquisition. For this reason, the Existing USD Viterra Notes and Existing Euro Viterra Notes were not recognized on Bunge's condensed consolidated balance sheet until the third quarter of 2025, following the completion of the Acquisition.