Press Release

    Olam Agri secures purpose-driven financing with US$2,900 million loan based on Poseidon Principles

    Press release


    Olam Agri, the food, feed and fibre operating group of Olam Group Limited (“Olam Group”), announced today that it has secured a facility based on Poseidon Principles (“the Facility”) aggregating US$2,900 million. 

    N Muthukumar, Group CFO of Olam Group and CEO of Operations at Olam Agri said:

    “At Olam Agri, we hold ourselves accountable by embedding international ESG standards and best practices in our operations. This Facility is closely aligned with Olam Agri’s purpose of transforming food, feed and fibre for a more sustainable future and strengthens our resolve to improve carbon management in our freight business. We are encouraged by the strong endorsement and support from our banking partners for this facility.”  

    The Facility has Olam Agri subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as co-borrowers with a tenor of three years. The Facility is guaranteed by Olam Group. Proceeds from the Facility will be applied towards refinancing of Olam Agri’s existing loans and for general corporate purposes. 

    The Facility saw participation from a large and diverse group of 16 lenders: 

    Senior Mandated Lead Arrangers

    1. BNP Paribas

    2. Citigroup

    3. DBS Bank Ltd. (“DBS”)

    4. JP Morgan Chase Bank N.A.

    5. Mizuho Bank, Ltd.

    6. MUFG Bank Ltd. (“MUFG”)

    7. Natixis

    8. The Hongkong And Shanghai Banking Corporation Limited (“HSBC”)

    Mandated Lead Arranger

    1. Australia And New Zealand Banking Group Limited

    Lead Arrangers

    1. Barclays Bank Plc.

    2. Banco Bilbao Vizcaya Argentaria S.A.

    3. ING

    4. Intesa Sanpaolo S.p.A.

    5. National Australia Bank Limited

    6. Scotiabank (BNS Asia Ltd.)

    7. Westpac Banking Corporation

    DBS, MUFG and Natixis are joint Poseidon Principles programme co-ordinators for the Facility and HSBC has been appointed as the facility agent.  

    The Poseidon Principles provide a framework for integrating climate considerations into lending decisions to promote international shipping’s decarbonisation.

    About Olam Agri

    Olam Agri is a market leading, differentiated food, feed and fibre agri-business with a global origination footprint, processing capabilities and deep understanding of market needs built over 33 years. With a strong presence in high-growth emerging markets and products across grains & oilseeds, animal feed & protein, rice, edible oils, specialty grains & seeds, cotton, wood products, rubber and commodity financial services, Olam Agri is at the heart of global food and agri-trade flows with more than 40 million MT in volume traded annually. Focused on transforming food, feed and fibre for a more sustainable future, it aims at creating value for customers, enable farming communities to prosper sustainably and strive for a food-secure future. Olam Agri is a fully owned subsidiary of Olam Group. 

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    About Olam Group 

    Olam Group is a leading food and agri-business supplying food, ingredients, feed and fibre to 20,900 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. 

    Media Contact:
    • Johahn Bhurrut
    • +65 9298 2284

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