Press release
8th Jul, 2024
ofi secures inaugural US$1,075 million dual currency loan facility
Singapore
Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food and beverage ingredients, has secured its inaugural dual currency (USD & CNH) term loan facility aggregating US$1,075 million (the “Facility”).
Rishi Kalra, Executive Director and Group CFO of ofi said: “This is ofi’s first facility that contains a CNH tranche which further diversifies our borrowing mix and complements our strong liquidity position.”
The Facility has Olam Treasury Pte Ltd as a Borrower. The Facility is initially guaranteed by Olam Group Limited which will transfer to ofi Group Limited following the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and general corporate purposes. The Facility comprises a two-year USD 950 million term loan tranche and a one-year CNH 875 million (~USD 125M) tranche with a lenders’ extension option of o
News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
Blog
8th Mar, 2023
Empowering Women in Farming with Equity
When you picture a farmer today, is a woman the first image that comes to mind? Probably not. Yet today, in farming communities all around the world, women are a significant driving force. According to estimates from the UN FAO, women farmers represent 43%1 of the global agricultural workforce and make up 60% of agricultural workers in Asia and sub-Saharan Africa. Yet, many women still face significant hurdles and discrimination when it comes to land ownership, and access to financial services and resources.
Ensuring women farmers are successful is not only key to improving livelihoods for them and their families, but is essential to strengthening global food security and nutrition. To succeed, women farmers must have the same opportunities as men to access training, inputs, finance and support.
How is Olam Agri supporting women in farming?
Our strong presence in Africa and Asia is enabling us to drive equity, promote inclusive growth and reduce inequalities in the communities where