Singapore – January 9, 2023 – olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, announced today that it has secured a 2-year loan facility aggregating US$600 million (the “Facility”). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group Limited “Olam Group”) to unlock and maximize its long-term value.
The Facility has Olam Holdings BV as a Borrower and comprises a revolving credit facility (“RCF”) tranche and a Term Loan tranche. The Facility is initially guaranteed by Olam Group Limited which will transfer to ofi Group Limited post the planned IPO and demerger of ofi.
Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and for general corporate purposes. BNP Paribas, DBS, HSBC, Mizuho, MUFG and Standard Chartered Bank participated as Senior Mandated Lead Arrangers of the Facility. HSBC has been appointed as the facility agent.
Credit: Olam Group Newsroom.