Olam's ofi secures $1.62b dual-tranche loan for IPO prep

The facility comprises a two-year revolving credit and a three-year term loan tranche.

Olam Group Limited’s wholly owned subsidiary, olam food ingredients (ofi), has secured its first dual-tranche syndicated loan facility totalling $1.62 b (EUR1.1 b).

The facility names Olam Treasury B.V. as a borrower and is initially guaranteed by Olam Group. The guarantee will transfer to ofi Group Limited following the planned initial public offering and demerger.

The facility comprises a two-year $662m (EUR450m) revolving credit tranche with a one-year lenders’ extension option, and a three-year $956m (EUR650m) term loan tranche.

A total of 11 banks participated across two tiers, with The Hongkong and Shanghai Banking Corporation appointed as the facility agent.

($1 = EUR0.68)

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