Olam unit bags US$1.12 billion dual currency loan facility
It will be used to refinance ofi’s existing loans and for general corporate purposes
[SINGAPORE] Agribusiness conglomerate Olam Group said on Wednesday (Dec 10) that its wholly owned subsidiary, Olam Food Ingredients (ofi), secured a multi-tranche dual currency term loan facility of US$1.12 billion.
The facility consists of two US dollar tranches of US$775 million in total and a tranche of 2.42 billion yuan (S$444.3 million). It will be transferred to the unit after its planned initial public offering and demerger.
“Proceeds from the facility will be applied towards refinancing of ofi’s existing loans and general corporate purposes,” said Olam in a bourse filing.
HSBC has been appointed as the facility agent.
The filing noted that 12 banks participated in the facility.
The lead arrangers are Cathay United Bank, China Citic Bank, Fubon Bank, Hang Seng Bank, Maybank and Shanghai Pudong Development Bank.
The mandated lead arrangers are CTBC Bank, DBS and and Standard Chartered Bank (Singapore).
The senior mandated lead arrangers are Bank of China, Industrial and Commercial Bank of China and HSBC.
Ofi was created in early 2020, after a reorganisation of Olam. The unit accounted for close to 40 per cent of the group’s total revenue for financial year 2024 and contributed S$14.7 billion in the first six months of 2025, said a Reuters report.
The agribusiness has expressed interested in listing its ingredients business on the premium segment of the London Stock Exchange, alongside a secondary listing in Singapore.
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