Press Release

    Olam Secures US$400 Million Revolving Credit Facility

    Press release

    Olam International Limited (“Olam”) is pleased to announce the completion of a US$400 million Revolving Credit Facility (the “Facility”) for its US subsidiary Olam Holdings Partnership (“Holdings” or the “Company”). The three-year Facility was arranged by a group of eight international banks, and is guaranteed by Olam. Final documentation for the Facility has been signed today.

    The Facility was underwritten by the Joint Lead Managers and Bookrunners, which include Credit Suisse AG, Singapore Branch, HSBC Bank USA, National Association, ING Bank N.V., JPMorgan Chase Bank, N.A., The Korea Development Bank, Natixis, New York Branch, The Royal Bank of Scotland PLC and Standard Chartered Bank.

    Proceeds from the Facility will be used to refinance existing debt, as well as to finance the working capital needs of the Company and its subsidiaries in the US and for general corporate purposes.

    A. Shekhar, Olam’s Executive Director, Finance and Business Development said: “We are very pleased to complete this financing against the backdrop of a challenging macro environment. This new Facility, has been upsized to US$400 million and we have achieved a more competitive pricing than the existing US$350 million syndicated term loan. This reflects the strong credit fundamentals of Olam, and highlights our ability to effectively access bank loan markets in multiple jurisdictions. We would like to thank the arranging bank group for their continued support and for providing yet another endorsement of their strong confidence in Olam’s business model and financial credentials.”


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