Olam successfully completes US$1.5 billion debt refinancing
Global food and agri-business Olam International Limited (“Olam’’) and its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), have secured a multi-tranche revolving credit facility aggregating US$1,525.0 million (the “Facility”).
The Facility consists of three tranches – a 364-day revolving credit facility of US$610.0 million, a 2-year revolving credit facility of US$457.5 million and a 3-year revolving credit facility of US$457.5 million.
Proceeds from the Facility will be applied towards refinancing of existing loans of Olam and its subsidiaries.
The lender group includes four Senior Mandated Lead Arrangers – ABN Amro Bank N.V., The Hongkong And Shanghai Banking Corporation Limited, National Australia Bank Limited and Sumitomo Mitsui Banking Corporation & 15 Mandated Lead Arrangers - Australia And New Zealand Banking Group Limited, BNP Paribas, BNS Asia Limited, Commonwealth Bank Of Australia, DBS Bank Ltd., Emirates NBD, ING Bank N.V., Hang Seng Bank Limited, JP Morgan Chase Bank N.A., Mizuho Bank, Ltd., MUFG Bank Ltd, Natixis, Standard Chartered Bank, UniCredit Bank AG and Westpac Banking Corporation. HSBC is the Facility agent.
Jayant Parande, President and Global Head of Treasury and Investor Relations of Olam said: “This refinancing is an integral part of our ongoing efforts to proactively manage our capital structure. I would like to thank all the participating banks for their strong support in making this transaction a success.”