Olam International Limited, a leading agri-business operating across the value chain in 70 countries including Ghana, has announced that it has secured a revolving credit facility aggregating US$2.0 billion.
The Facility consists of three tranches – a 364-day revolving credit facility of US$400.0 million, a 2-year revolving credit facility of US$800.0 million and a 3-year revolving credit facility of US$800.0 million.
Proceeds from the Facility will be applied towards refinancing of existing syndicated and bilateral bank loans of the Company.
The Company has appointed Australia and New Zealand Banking Group Limited, The Bank Of Tokyo-Mitsubishi UFJ, Ltd., Singapore Branch, Barclays Bank PLC, BNP Paribas, Commerzbank AG, Singapore Branch, Coöperatieve Rabobank U.A., Singapore Branch, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, ING Bank N.V., Singapore Branch, JPMorgan Chase Bank, N.A., Singapore Branch, The Korea Development Bank, Mizuho Bank Ltd., Natixis, Singapore Branch, National Australia Bank Limited, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Singapore Branch and Westpac Banking Corporation as Senior Mandated Lead Arrangers and Banco Bilbao Vizcaya Argentaria S.A., Singapore Branch, BNS Asia Limited, Commonwealth Bank Of Australia, Singapore Branch and Credit Suisse AG, Singapore Branch as Mandated Lead Arrangers for the Facility.
Olam’s Group CFO, N. Muthukumar said: “We are extremely pleased to have concluded this refinancing which helps to optimise the overall tenor of our debt portfolio. We would like to thank our banking partners for their strong support and continuing commitment for this transaction.”
Olam International supplies various products across 16 platforms to over 16,200 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the S&P Agribusiness Index and the DAXglobal Agribusiness Index. In 2016, Fortune recognised Olam at #23 in its ‘Change the World’ list.
Source: ClassFMonline.com
