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.”

    Download

    • Document
      US400-Million-Revolving-Credit-Facility.pdf
    About Olam International Limited

    Olam International is a leading global integrated supply chain manager and processor of agricultural products and food ingredients, supplying various products across 16 platforms to over 12,300 customers worldwide. From a direct presence in more than 65 countries with sourcing and processing in most major producing countries, Olam has built a global leadership position in many of its businesses, including Cashew, Spices & Vegetable Ingredients, Cocoa, Coffee, Rice, Cotton and Wood Products. Headquartered in Singapore and listed on the SGXST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), MSCI Singapore Free, S&P Agribusiness Index and the DAXglobal Agribusiness Index.

    Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune. More information on Olam can be found at www.olamgroup.com.

    Subscribe to Our News Alerts

    Subscribe to our Olam monthly newsletter.