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.
Blog
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace
“This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes.
It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.”
Forest
