Olam secures US$1.0 billion European Revolving Credit 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 European subsidiary, Olam Holdings B.V., has secured a revolving credit facility (the “Facility”) aggregating US$1.0 billion. The Facility is guaranteed by the Company & is the first Revolving Credit Facility secured by Olam in Europe.
The Facility consists of three tranches – a 364-day revolving credit facility of US$400.0 million, a 2-year revolving credit facility of US$300.0 million and a 3-year revolving credit facility of US$300.0 million.
Proceeds from the Facility will be applied towards refinancing of existing syndicated/ bilateral bank loans of the Company & subsidiaries.
ABN Amro Capital USA LLC, Banco Bilbao Vizcaya Argentaria, S.A, Singapore Branch, Banco Santander, S.A., Singapore Branch, Bank of Baroda, Offshore Branch, Singapore, The Bank Of Tokyo-Mitsubishi UFJ, Ltd. Singapore Branch, Commerzbank AG, Singapore Branch, Commonwealth Bank Of Australia, Singapore Branch, Coöperatieve Rabobank U.A., ING Bank N.V., Intesa Sanpaolo Bank Luxembourg – Amsterdam Branch, Mizuho Bank, Ltd., Natixis, Sumitomo Mitsui Banking Corporation Singapore Branch, Unicredit Bank AG, Singapore Branch and Wells Fargo Bank, National Association (acting through its Singapore Branch) acted as Mandated Lead Arrangers for the Facility.
Jayant Parande, President & Global Head of Treasury & Investor Relations said: “We are extremely pleased to have secured this financing which helps to optimise the overall tenor as well as reduce the cost of our debt portfolio. We would like to thank our banking partners for their strong support for our debut European loan transaction.”