Press release
8th Jul, 2024
ofi secures inaugural US$1,075 million dual currency loan facility
Singapore
Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food and beverage ingredients, has secured its inaugural dual currency (USD & CNH) term loan facility aggregating US$1,075 million (the “Facility”).
Rishi Kalra, Executive Director and Group CFO of ofi said: “This is ofi’s first facility that contains a CNH tranche which further diversifies our borrowing mix and complements our strong liquidity position.”
The Facility has Olam Treasury Pte Ltd as a Borrower. The Facility is initially guaranteed by Olam Group Limited which will transfer to ofi Group Limited following the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and general corporate purposes. The Facility comprises a two-year USD 950 million term loan tranche and a one-year CNH 875 million (~USD 125M) tranche with a lenders’ extension option of o
Press release
28th Jun, 2024
Olam Agri secures AED 2,740 million revolving credit facility
Singapore
Olam Group Limited (“Olam Group”) announced today that its food, feed and fibre operating group, Olam Agri, has secured a financing facility (“the Facility”) from banks in the United Arab Emirates aggregating AED 2,740 million (approximately US$745 million).
The Facility has Olam Agri subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as borrowers with a tenor of three years. The Facility is initially guaranteed by Olam Group which will transfer to Olam Agri upon demerger of Olam Agri. Proceeds from the Facility will be applied towards refinancing of Olam Agri’s existing loans and for general corporate purposes.
Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Standard Chartered Bank, and Emirates NBD Bank are the Senior Mandated Lead Arrangers & Bookrunners for the Facility. HSBC is the Facility Agent.
News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.