Global commodities giant Louis Dreyfus announced late Sunday it is planning to issue bonds for the first time in its 160-year history, according to its CEO Serge Schoen.

The firm is intending to boost investments by around 40 percent when weighed against the volume of ventures made between 2006 and 2011. The privately held food trading powerhouse will also undertake several acquisitions, leading to estimated spending of around $7bn, according to reports.

Dreyfus is set to finance its expansion plans via the capital markets and cash. “We have a strong balance sheet but we want to diversify our sources of capital,” Schoen told reporters.

The group recently reported sales of $59.6bn, up 29 percent year-on-year.

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