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Olam Agri bags US$2.9b facility for refinancing of existing loans

The facility was based on Poseidon Principles.

Olam Agri --- the food, feed and fibre operating group of Olam Group Limited --- has secured a US$2.9b ($4b) facility based on Poseidon Principles.

Proceeds from the facility will be used to refinance the business’ existing loans and for general corporate purposes.

According to Olam Agri, the facility was participated by 16 lenders including Citigroup, DBS Bank, and JP Morgan Chase Bank.

Meanwhile, Olam Agri’s subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. will be co-borrowers with a tenor of three years in the facility.

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