, Singapore
211 views
Logo from Olam Agri

Olam unit bags US$1.75b sustainability-linked loan

Nineteen banks participated in the facility.

Olam Food Ingredients (ofi), a wholly-owned subsidiary of Olam Group, secured a multi-tranche sustainability-linked facility aggregating US$1.75b.

“The facility is initially guaranteed by Olam Group Limited which will transfer to ofi Group Limited following the planned IPO and demerger of ofi,” the company said in a bourse filing.

The facility compromises a two-year and three-year Revolving Credit Facility (“RCF”) and a three-year term loan.

“The interest margin on the facility is linked to the achievement of certain sustainability targets and could reduce if those targets are met,” Olam Group said.

Ofi will use proceeds from the facility to refinance its existing loans and general corporate purposes.

Meanwhile, Olam Group shared that 19 banks from Australia, Canada, China, Europe, Japan, the Middle East, Singapore and the United States participated in the facility across four tiers.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Retail
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.