Pipeline Foods Expands Working Capital Line with Rabobank, CoBank, and ING
Additional funding positions the company for continued growth
MINNEAPOLIS, Sept. 26, 2019 /PRNewswire/ -- Pipeline Foods LLC, the first U.S.-based supply chain solutions company focused exclusively on organic, non-GMO and regenerative food and feed, announced today that it has successfully completed the renewal and syndication of its operating line led by Rabobank, and including ING Capital and CoBank in the syndicate.
"In doubling the line with the syndicate, we ensure that Pipeline Foods has access to the funds it needs to service the growth we anticipate across the platform. We are excited that three internationally recognized agribusiness lenders have chosen to partner with us for the future," said Monte Bullock, senior vice president of finance and administration at Pipeline Foods.
"This partnership is a testament to Rabobank's commitment of Growing a Better World Together and provides us with a unique opportunity to support a sustainability-focused company in which virtually all assets and operations are green," said Karel Valken, Rabobank's Global Head of Trade and Commodity Finance Agri.
The Rabobank-led revolving credit facility is defined as a Green Loan, as it contributes to the achievement of global environmental objectives, adheres to no harm principles, and is crafted in adherence to the ICMA Green Loan Principles and EU standards.
"We appreciate our banking partners' support of Pipeline Foods' rapid growth in the clean label food space, and we're proud of the fact that this is the first source of sustainably linked debt capital, recognizing the value created by the Pipeline Foods IMPACT Program for all of our stakeholders," said Robert Hodgen, interim CEO of Pipeline Foods and Managing Director, AMERRA Capital.
"This is a great example of joining forces to achieve the greatest impact in sustainable development for Pipeline Foods," said Nader Pasdar, Rabobank's Head of Markets North America. "We are also pleased to have our banking partners, ING Capital and CoBank join the credit facility."
About Pipeline Foods
With headquarters in Minneapolis, Minn., Pipeline Foods is accelerating the availability and reliability of non-GMO, organic and regeneratively grown food. We bring transparent, sustainable supply chain solutions to connect the dots for our farming partners and end users of organic grains and ingredients. Find us at https://www.pipelinefoods.com/, on Twitter @PipelineFoods and Facebook www.facebook.com/pipelinefoods/.
About Rabobank
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in 39 countries worldwide. Founded over a century ago, Rabobank today is one of the world's largest banks with over $665 billion in assets. In the Americas, Rabobank is a premier bank to the food, agribusiness and beverage industry, providing sector expertise, strategic counsel and tailored financial solutions to clients across the entire food value chain. Additional information is available on our website or on our social media platforms, including Twitter and LinkedIn.
SOURCE Pipeline Foods LLC
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