It will be used to refinance its existing debt.
Wilmar International’s subsidiary Wii was able to secure a syndicated loan facility worth US$1.5b.
According to an announcement, the bookrunners comprise DBS, The Hongkong and Shanghai Banking Corporation, Mizuho Bank, MUFJ Bank, OCBC, UOB, and Westpac Banking Corporation.
The loan will refinance existing debt and to finance general corporate and working capital requirements of Wilmar and its subsidiaries.
Wilmar International's profits wilted in the first quarter of 2018 and fell 40.6% to $203.28m. It had to face a difficult operating environment in Tropical Oils businesses and seasonal sugar losses.
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