Singapore’s Olam units secure $615 million financing facility

By Mary-Katherine Stinson

Lexington, Ky., March 14 – Olam Group Ltd.’s operating group Olam Agri, along with co-borrowers Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd., secured a $615 million financing facility with a tenor of three years, according to a notice.

Olam Group will guarantee the loan initially. It will transfer to Olam Agri after the spinoff of Olam Agri.

Mizuho Bank, Ltd. is the senior mandated lead arranger.

Australia and New Zealand Banking Group Ltd., DBS Bank Ltd and MUFG Bank Ltd are the mandated lead arrangers.

BNP Paribas, Scotiabank (BNS Asia Ltd.), ING Bank, Emirates NBD Bank (PJSC) and National Australia Bank Ltd. are lead arrangers.

HSBC is the facility agent.

The loan will be used to refinance Olam Agri’s existing loans and 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.

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