4th Sep, 2023
ofi prices US$125 million US private placement
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 priced a US$125 million issuance of 5-year and 7-year floating rate notes (the “Notes”) via a private placement to US investors. The Notes were issued by Olam Americas LLC (“OAL”), a 100% indirect subsidiary of ofi and comprised of US$25 million 5-year floating rate notes and US$100 million 7-year floating rate notes. Proceeds from the issue of the Notes will be used by OAL and its US affiliates for refinancing existing debt and general corporate purposes. Rabobank acted as the sole placement agent for the transaction.
31st Aug, 2023
ofi secures US$1,750 million sustainability-linked loan
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 a multi-tranche sustainability-linked facility aggregating US$1,750 million (the “Facility”). Rishi Kalra, Executive Director and Group CFO of ofi said: “At ofi, sustainability is at the heart of our operations. This Facility complements our strong liquidity position, sustainability efforts and our growth strategy to deliver sustainable, natural, value-added food and beverage ingredients and solutions through a diverse channel mix to customers across the globe.” 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 loa
16th May, 2023
Providing Access to Clean Drinking Water in Satikran, Côte d'Ivoire
In the small village of Satikran, located about 30 km from Abengourou in the sub-prefecture of Aniassué, life is changing for the better. Olam Agri's rubber business in Côte d'Ivoire – Société Agro-Industrielle de la Comoé (SAIC) – has donated a solar water pump to the village, bringing access to clean drinking water to more than 12,000 inhabitants. The donation is part of the Nassey program, which means "Thank You" in the local dialect and aims to show our appreciation and commitment to social development for rural communities. The solar-powered water pump will provide the community with safe and clean drinking water, something they have long struggled to access. The donation, which was made in time for World Water Day, had Augustin Apetey, Deputy Managing Director of SAIC, expressing his joy at the pump’s impact on the community saying, "What a relief for our mothers, sisters, and daughters! So many lives to change!"
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary. Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace “This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes. It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.” Forest