Proceeds will be used to refinance the company’s existing loans.
Olam International and its subsidiary Olam Treasury, have secured a revolving credit facility (RCF) of $724.26m (US$525m), with interest margin linked to meeting improvement targets for sustainability Key Performance Indicators (KPI), according to a news release.
Proceeds from the facility will be used for the refinancing of the company’s and its subsidiaries’ existing loans.
The loan consists of tranches of $434.56m (US$315m) for one year, $144.85m (US$105m) for two years, and another $144.85m for three years.
The KPIs they identified to achieve are named Prosperous Farmers and Food Systems, Thriving Communities, and Regeneration of the Living World.
Ernst & Young will assess their achievement scores.
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