Press Release

    ofi secures inaugural EUR financing facility of EUR 1,100 million

    Press release

    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-tranche EUR syndicated loan facility aggregating EUR 1,100 million (the “Facility”).

    Rishi Kalra, Executive Director and Group CFO of ofi said:
    “I am delighted to announce the successful completion of our inaugural EUR financing. This facility demonstrates our ability to tap into diverse pools of capital to further diversify our borrowing mix. It enhances our robust liquidity position and provides financial flexibility to execute our strategy and deliver value to our stakeholders.”

    The Facility has Olam Treasury B.V. (“OTBV”) as a Borrower. The Facility is initially guaranteed by Olam Group Limited which would 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 EUR 450 million revolving credit tranche with a lenders’ extension option of one year and a three-year EUR 650 million term loan tranche.

    A total of 11 banks participated in the Facility across two tiers:

    Mandated Lead Arrangers

    1. Banco Bilbao Vizcaya Argentaria SA
    2. Credit Agricole Corporate & Investment Bank
    3. First Abu Dhabi Bank PJSC
    4. ING Bank NV
    5. KfW Ipex-Bank GmbH
    6. Natixis
    7. Cooperatieve Rabobank UA
    8. Unicredit Bank GmbH

    Lead Arrangers

    1. Banco Santander SA
    2. Commonwealth Bank of Australia Europe NV
    3. DZ Bank AG

    The Hongkong and Shanghai Banking Corporation has been appointed as the Facility Agent.

    About Olam Group

    Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to almost 22,000 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a global network of farmers.

    Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam Group aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all our stakeholders.

    Headquartered and listed in Singapore, Olam Group is a component stock of the iEdge Singapore Next 50 index and a Singapore constituent of market indices including the FTSE Global All World Ex US Index, FTSE Developed All Cap Ex US Index, MSCI World ESG Screened Index, MSCI EAFE Small Cap Index and MSCI EAFE Investable Market Index (IMI). It is also part of the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency.

    More information on Olam can be found at www.olamgroup.com. 

    Olam is located at 7 Straits View, Marina One East Tower #20-01, Singapore 018936. Telephone: +65 63394100, Facsimile: +65 63399755.

    Contacts for Olam Investor Relations:
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