Olam International secures US$1,750.0 million 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 it has secured a revolving credit facility (the “Facility”) aggregating US$1,750.0 million. Olam Treasury Pte Ltd (a 100% owned subsidiary of Olam) is a co-borrower and the Facility is guaranteed by the Company.
The Facility consists of three tranches – a 364-day revolving credit facility of US$583.33 million, a 2-year revolving credit facility of US$583.33 million and a 3-year revolving credit facility of US$583.34 million.
Proceeds from the Facility will be applied towards refinancing of existing loans of the Company & subsidiaries.
The Company has appointed ABN Amro Bank N.V., Singapore Branch, Australia and New Zealand Banking Group Limited, Barclays Bank Plc, BNP Paribas (acting through its Singapore Branch), Credit Suisse AG, Singapore Branch, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, JPMorgan Chase Bank, N.A., Singapore Branch, Mizuho Bank, Ltd., National Australia Bank Limited, Natixis, Singapore Branch, Standard Chartered Bank, State Bank of India, Singapore Branch, Sumitomo Mitsui Banking Corporation Singapore Branch, Westpac Banking Corporation & UniCredit Bank AG, Singapore Branch as Senior Mandated Lead Arrangers for the Facility and Bank of Baroda, Singapore Branch, Commerzbank AG, Singapore Branch, Commonwealth Bank of Australia, Singapore Branch, First Abu Dhabi Bank P.J.S.C., Singapore Branch & ING Bank N.V. Singapore Branch as Mandated Lead Arrangers for 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 of our debt portfolio. We would like to thank our banking partners for their strong support for this loan transaction.”