Press Release

    ofi secures JPY 46 billion medium-term samurai loan facility

    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 & beverage ingredients, has secured a multi-tranche medium-term samurai loan facility aggregating JPY 46 billion (the “Facility”). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group) to unlock and maximize its long-term value. 

    The Facility has Olam Treasury Pte Ltd as a Borrower and comprises (i) a 3-year tranche of JPY 40.5 billion, and (ii) a 5-year tranche of JPY 5.5 billion. The Facility is initially guaranteed by Olam Group which will transfer to ofi Group Limited post the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and for general corporate purposes.  

    MUFG Bank Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Development Bank of Japan Inc. acted as Mandated Lead Arrangers and Bookrunners for the Facility, with MUFG Bank Ltd. acting as 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, farm-gate 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, please visit www.ofi.com (privacy statement here).

    Follow @ofi-group on LinkedIn.


    About Olam Group

    Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,200 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. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds. 

    To subscribe to the Olam Newsroom select ‘Subscribe’ at the top of this page.

    Follow @olam on LinkedIn.


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

    For Further Information:

    Contacts for Olam Investor Relations:

    Aditya Renjen Chow Hung Hoeng 
    Senior Vice President  Vice President 
    aditya.renjen@ofi.com chow.hunghoeng@olamagri.com
    +65 6603 1104 / +65 9657 0339 +44 7385 466 532

     

    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   
    chorhaoo@we-watatawa.com msim@we-watatawa.com  
    +65 96272674 +65 93802938  

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