Press Release

    ofi secures inaugural US$1,075 million dual currency loan facility

    Press release


    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 one year. 

    A total of 10 banks participated in the Facility across three tiers:

    Senior Mandated Lead Arrangers

    1. Bank of China Limited

    2. DBS Bank Ltd

    3. Industrial and Commercial Bank of China Limited

    4. The Hong Kong and Shanghai Banking Corporation (HSBC)


    Mandated Lead Arrangers

    5. CTBC Bank Co Ltd

    6. Standard Chartered Bank (Singapore) Limited


    Lead Arrangers

    7. Bank of Communications Co Ltd

    8. Cathay United Bank

    9. China Citic Bank International Limited

    10. Malayan Banking Berhad

    HSBC has been appointed as the Facility Agent. 

    About ofi

    olam food ingredients (“ofi”) is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices. ofi has built a unique global value chain presence including its own farming operations, farmgate origination, and manufacturing facilities. ofi partners with customers, leveraging its complementary and differentiated portfolio of ‘on-trend’ food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.

    To subscribe to the ofi newsroom and for more information on ofi please visit

    About Olam Group

    Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to 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 currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST. Since June 2020, Olam Group has been included in 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

    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:

    Aditya Renjen Chow Hung Hoeng 
    Senior Vice President  Vice President
    +65 66031104, 96570339 +65 63179471, 98346335


    Issued on behalf of Olam Group Limited by:

    WATATAWA Consulting, 3 Harbourfront Place, #12-02/04, Harbourfront Tower 2, Singapore 099254 

    Ong Chor Hao Melissa Sim  
    Director   Associate Director  
    +65 96272674 +65 93802938  

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