Olam secured $2.8bn credit facility

It's comprised of three tranches.

Commodity trader Olam International announced it has secured a revolving credit facility which consists of three tranches.

The tranches are a 364- day revolving credit facility of US$400m (S$555m), a two- year revolving credit facility of US$800m (S$1.11bn) and a three-year revolving credit facility of US$800m ($1.11bn.

Proceeds from the facility will be applied towards refinancing of existing syndicated and bilateral bank loans of the company.

The mandated lead arrangers for the facility totalled 21 banks including Australia and New Zealand Banking Group, The Bank Of Tokyo‐Mitsubishi UFJ, Singapore Branch, DBS Bank and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch.

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