Olam International completes US$400.0 million debt refinancing
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$400.0 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$160.0 million, a 2-year revolving credit facility of US$120.0 million and a 3-year revolving credit facility of US$120.0 million.
Proceeds from the Facility will be applied towards refinancing of existing loans of the Company & subsidiaries.
The Company has appointed Australia and New Zealand Banking Group Limited, Credit Suisse AG, Singapore Branch, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, JPMorgan Chase Bank, N.A., Singapore Branch and Standard Chartered Bank, as Mandated Lead Arrangers for the Facility.
Jayant Parande, President & Global Head of Treasury & Investor Relations of Olam said: “We are pleased to have secured this refinancing which extends our debt maturity profile at a competitive cost. We would like to thank our banking partners for their strong support for this loan transaction.”
About Olam International Limited
Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 18 platforms to 23,000 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 30 largest primary listed companies in Singapore in terms of market capitalisation. In 2016, Fortune magazine recognised Olam at #23 in its ‘Change the World’ list.
More information on Olam can be found at www.olamgroup.com.
Olam is located at 7 Straits View, Marina One East Tower, Singapore 018936.
Telephone: +65 63394100, Facsimile: +65 63399755.
Issued on behalf of Olam International Limited by:
WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120
Contacts For Olam Investor Relations
+65 66031104, 96570339
Chow Hung Hoeng
+65 63179471, 98346335
Contacts For WATATAWA Consulting