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.
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage. In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping. The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
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