Olam secures JPY 25.0 billion Term Loan Facility
Olam International Limited (“Olam’’ or “the Company”), a leading agri-business operating across the value chain in 70 countries, announced today that its wholly owned subsidiary, Olam Treasury Pte. Ltd., has secured a three-year term loan facility (the “Facility”) aggregating JPY25.0 billion (approximately US$222.0 million) in the Japanese loan market. The Facility is guaranteed by the Company.
Proceeds from the Facility will be applied towards refinancing of existing loans of the Company and subsidiaries and for general corporate purposes.
The Bank Of Tokyo-Mitsubishi UFJ, Ltd. and Mizuho Bank, Ltd., acted as Mandated Lead Arrangers & Bookrunners (MLABs) for the Facility, with The Bank Of Tokyo-Mitsubishi UFJ, Ltd. as Facility Agent. The Facility was syndicated by the MLABs in the Japanese loan market and oversubscribed during the book building process, with the final facility amount being upsized from initial launch. Nine other Japanese banks were the participating banks in the Facility.
Jayant Parande, President & Global Head of Treasury & Investor Relations of Olam said: “We are extremely pleased to have secured this financing which helps to optimise the overall tenor and diversify the funding mix of our debt portfolio. We would like to thank our banking partners for their strong support for our debut Samurai loan transaction.”