v3.7.0.1
TRADE RECEIVABLES SECURITIZATION PROGRAM
 3 Months Ended
Mar. 31, 2017
TRADE RECEIVABLES SECURITIZATION PROGRAM  
TRADE RECEIVABLES SECURITIZATION PROGRAM

12.           TRADE RECEIVABLES SECURITIZATION PROGRAM

 

On May 26, 2016, Bunge and certain of its subsidiaries renewed and amended its $700 million trade receivables securitization program (the “Program”). Bunge and certain of its subsidiaries participate in the Program with a financial institution, as administrative agent, and certain commercial paper conduit purchasers and committed purchasers (collectively, the “Purchasers”) that provides for funding of up to $700 million against receivables sold into the Program.

 

The table below summarizes the cash flows and discounts of Bunge’s trade receivables associated with the Program. Servicing fees under the Program were not significant in any period.

 

 

 

March 31,

 

March 31,

 

(US$ in millions)

 

2017

 

2016

 

Gross receivables sold

 

$
2,382

 

$
2,263

 

 

 

 

 

 

 

 

 

Proceeds received in cash related to transfer of receivables

 

$
2,252

 

$
2,155

 

 

 

 

 

 

 

 

 

Cash collections from customers on receivables previously sold

 

$
2,347

 

$
2,227

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

March 31,

 

(US$ in millions)

 

2017

 

2016

 

Discounts related to gross receivables sold included in SG&A

 

$
2

 

$
2

 

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

 

(US$ in millions)

 

2017

 

2016

 

Receivables sold which were derecognized on Bunge balance sheet

 

$
631

 

$
628

 

 

 

 

 

 

 

 

 

Deferred purchase price included in other current assets

 

$
95

 

$
87