Olam completes US$1.4 billion debt refinancing
Leading global agri-business, Olam International Limited (“Olam’’) and its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), have secured a multi-tranche revolving credit facility aggregating US$1,425.0 million (the “Facility”).
The Facility consists of three tranches – a 364-day revolving credit facility of US$570.0 million, a 2-year revolving credit facility of US$427.5 million and a 3-year revolving credit facility of US$427.5 million.
Proceeds from the Facility will be applied towards refinancing of existing loans of Olam and its subsidiaries.
The lender group included 9 Senior Mandated Lead Arrangers - ABN Amro Bank N.V., Australia And New Zealand Banking Group Limited, First Abu Dhabi Bank P.J.S.C., The Hongkong And Shanghai Banking Corporation Limited, National Australia Bank Limited, Natixis, Standard Chartered Bank, Unicredit Bank Ag and Sumitomo Mitsui Banking Corporation & 8 Mandated Lead Arrangers - Bank Of Baroda, BNP Paribas, Commonwealth Bank Of Australia, DBS Bank Ltd., JP Morgan Chase Bank N.A., Mizuho Bank, Ltd., MUFG Bank Ltd and Westpac Banking Corporation.
Jayant Parande, President & Global Head of Treasury & Investor Relations of Olam said: “This refinancing was an integral part of our ongoing efforts to proactively manage our capital structure. I would like to thank all the participating banks for their strong support in making this transaction a success.”