Press Release

    Olam secures a US$200 million term loan from EBRD

    Press release

    Singapore

    Global food and agri-business Olam International Limited and its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), have secured a dual tranche financing facility (the “Facility”) aggregating US$200 million from the European Bank for Reconstruction and Development (EBRD). 

    The Facility consists of two tranches - a US$50 million tranche and a US$150 million tranche which will replace Olam’s existing US$150 million loan from the EBRD that is due in December 2020. The Facility has an average tenor of approximately 3.58 years. 

    N Muthukumar, Managing Director and Group CFO of Olam, said: “I am delighted to announce the completion of this facility that supports working capital requirements across Olam’s businesses in eastern Mediterranean, Eastern Europe and the Black Sea regions. I would like to thank the EBRD for their continuing support and commitment to Olam. 

    “In addition, the European Union and the TaiwanBusiness – EBRD Technical Cooperation Fund will provide donor support for the development of new methodologies and processes for climate-related risk management and stress testing in Turkey and Egypt. This work will be valuable in helping Olam to implement the recommendations of the Taskforce for Climate-related Financial Disclosure (TCFD) which can then be shared across the agri-sector in both countries.” 

    Natalya Zhukova, EBRD Director Agribusiness, said: “Our region has enormous potential in agribusiness and Olam plays an important role in enhancing its integration into the global trade. As part of this project, a significant number of farmers will be added to Olam’s supply chain, improving the quality of products and operational standards. We are also pleased to support the company in enhancing its corporate governance for effective climate action.” 

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    About Olam International Limited

    Olam International is a leading food and agri-business supplying food, ingredients, feed and fibre to 25,200 customers worldwide. Our value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of an estimated 5.0 million farmers.

    Through our purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam 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 currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST.

    More information on Olam can be found at www.olamgroup.com

    Olam is located at 7 Straits View, Marina One East Tower #20-01, Singapore 018936.

    Telephone: +65 63394100, Facsimile: +65 63399755.

     

    Issued on behalf of Olam International Limited by:

    WATATAWA Consulting, 77 Robinson Road, Robinson 77 #33-00, Singapore 068896

    For further information, please contact:
    Contacts for Olam Investor Relations
    • Aditya Renjen
    • Senior Vice President
    • +65 66031104, 96570339
    • aditya.renjen@olamnet.com
    • Chow Hung Hoeng
    • General Manager
    • +65 63179471, 98346335
    • chow.hunghoeng@olamnet.com
    Contacts for WATATAWA
    • Josephine Chew
    • Managing Director
    • +65 90610353
    • jchew@we-watatawa.com
    • Ong Chor Hao
    • Deputy Director
    • +65 96272674
    • chorhaoo@we-watatawa.com

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