Olam secures US$1b European revolving credit facility

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.