Olam International Limited, a leading agri-business operating across the value chain in 70 countries announced Thursday April 14 that it has secured a revolving credit facility aggregating US$650 million.
The Facility consists of two tranches of US$325 million each, a 364-day revolving credit facility and a 2-year revolving credit facility.
Proceeds from the Facility will be applied towards refinancing of existing debt and meeting working capital and general corporate funding requirements of the Company.
The Company has appointed Australia and New Zealand Banking Group Limited, Banco Bilbao Vizcaya Argentaria S.A., Singapore Branch, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Singapore Branch, BNP Paribas (acting through its Singapore branch), Commerzbank AG, Singapore Branch, Credit Suisse AG, Singapore Branch, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, JPMorgan Chase Bank, N.A., Singapore Branch, Mizuho Bank, Ltd., Singapore Branch, National Australia Bank Limited, Natixis, Singapore Branch and Standard Chartered Bank as mandated lead arrangers for the Facility.
Olam’s Group CFO, N. Muthukumar said: “We are pleased to announce the successful completion of this refinancing, which is a part of our ongoing efforts to optimise the overall tenor and cost of our debt portfolio. We would like to thank our banking partners for their strong support and continuing commitment for this transaction.”
Olam 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.
Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.
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