Olam unit signs $625 million three-year Murabaha financing facility

By Mary-Katherine Stinson

Lexington, Ky., Aug. 31 – Olam Group Ltd.’s food, feed and fibre operating group, Olam Agri, closed on a commodity Murabaha facility from a diversified group of global investors totaling $625 million, according to a press release.

The three-year facility lists Olam Agri subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as purchasers. It is initially guaranteed by Olam Group. Later, after a planned public offering and demerger of the operating group, the guarantor will be Olam Agri.

Emirates NBD Capital Ltd. and Abu Dhabi Commercial Bank are the global Shariah coordinators for this facility.

Abu Dhabi Commercial Bank, Emirates NBD Bank and First Abu Dhabi Bank are the senior mandated lead arrangers.

Citibank NA, Credit Agricole CIB, HSBC Amanah, Mizuho Bank Ltd, MUFG Bank (Malaysia) Bhd. and Standard Chartered Bank are the mandated lead arrangers.

Emirates Islamic Bank is lead arranger and First Abu Dhabi is the investment agent.

Proceeds will be used for general corporate purposes.

Olam Group is a subsidiary holding company of Olam International Ltd., a Singapore-based supply chain manager and processor of agricultural products and food ingredients. Olam Agri Holdings Ltd., which holds the Olam Agri business, is a 64.6% owned subsidiary of Olam Group.

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