Olam unit bags 1.1 billion euro dual-tranche loan facility
Proceeds will be used for refinancing ofi’s existing loans and general corporate purposes
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[SINGAPORE] A wholly owned subsidiary of Olam Group – Olam Food Ingredients (ofi) – has secured its inaugural dual-tranche syndicated loan facility valued at 1.1 billion euros (S$1.6 billion), a Wednesday (Mar 18) bourse filing indicated.
The group said that the facility comprises a two-year 450 million euro revolving-credit tranche, with a lenders’ extension option of one year, and a three-year 650 million euro term-loan tranche.
Proceeds from the facility will be used for refinancing ofi’s existing loans and general corporate purposes.
A total of 11 banks participated in the facility. The lead arrangers of the facility are Banco Santander, Commonwealth Bank of Australia (Europe) and DZ Bank.
As for the mandated lead arrangers, they are Banco Bilbao Vizcaya Argentaria; Credit Agricole Corporate and Investment Bank; First Abu Dhabi Bank; ING Bank; KfW Ipex-Bank; Natixis; Cooperatieve Rabobank; and UniCredit Bank.
HSBC has been appointed as the facility agent.
Shares of Olam Group ended 0.6 per cent or S$0.005 higher at S$0.875 on Tuesday.
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