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Olam secures US$1b European revolving credit facility

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The mainboard-listed agribusiness has declared a one-tier tax exempt interim dividend of 3.5 Singapore cents per ordinary share for the current financial year.

COMMODITY trader Olam International said on Thursday its wholly owned European subsidiary has secured a revolving credit facility worth US$1 billion. The facility is guaranteed by the company and is the first revolving credit facility secured by Olam in Europe.

The facility consists of three tranches - a 364-day revolving credit facility of US$400 million, a two-year revolving credit facility of US$300 million and a three-year revolving credit facility of US$300 million.

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