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DEBT | 9 Months Ended
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Sep. 30, 2012
DEBT |
DEBT |
13. DEBT In August 2012, the $300 million 3.32% fixed rate term loan credit facility due 2013 was amended to include additional borrowing capacity of $100 million carrying a variable rate of interest of LIBOR plus 1.38%. In June 2012, Bunge completed the sale of $600 million aggregate principal amount of senior unsecured notes (senior notes) bearing interest at 3.20%, maturing on June 15, 2017. The senior notes were issued by Bunge’s 100% owned finance subsidiary, Bunge Limited Finance Corp., and are fully and unconditionally guaranteed by Bunge Limited. The offering was made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission. The net proceeds of $595 million were used for general corporate purposes including, but not limited to, the repayment of outstanding indebtedness, which includes indebtedness under its revolving credit facilities. In March 2012, Bunge acquired and consolidated an asset management company including certain investment funds for which Bunge has been deemed to be the primary beneficiary. This resulted in an increase in long-term debt attributable to these investment funds of $333 million as of September 30, 2012. The debt acquired primarily consists of third party debt and loans from limited partners in certain of the investment funds. Bunge has elected to fair value the loans from the limited partners on a recurring basis. The fair value of the debt was $333 million at September 30, 2012. The fair value of Bunge’s long-term debt is based on interest rates currently available on comparable maturities to companies with credit standing similar to that of Bunge. The carrying amounts and fair value of long-term debt are as follows:
|  | September 30, 2012 |  | December 31, 2011 |
|  | Carrying |  | Fair Value |  | Fair Value |  | Carrying |  | Fair Value |
(US$ in millions) |  | Value |  | (Level 2) |  | (Level 3) |  | Value |  | (Level 2) |
Long-term debt, including current portion |  | $ | 4,456 |  | $ | 4,607 |  | $ | 237 |  | $ | 3,362 |  | $ | 3,676 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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