Olam secures $205.37m SOFR club loan

Proceeds will be used for Olam's general corporate purposes.

Olam International Limited has secured a USD Secured Overnight Rate (SOFR) club loan worth $205.37m (US$150m).

Other partners in the SOFR loan are DBS and the Industrial and Commercial Bank of China (ICBC), Singapore branch. 

A tenor of one year with Olam Treasury Pte. Ltd. listed as co-borrower will be applied, with proceeds planned to be used for the general corporate purposes of Olam and its subsidiaries. Also included in the agreement is the allowing of crave-out, separation, proposed demerger and IP of as per Olam's re-organisation plan.

“We are delighted to continue our partnership with DBS and ICBC to explore financing solutions that aid us in the transition to alternative risk-free benchmark rates ahead of the impending discontinuation of LIBOR,’ said N Mutuhukamar, Group CFO, Olam.

This follows from Singapore’s first club loan pegged to the Singapore Overnight Rate Average, which was completed in September 2020, with DBS and ICBC Singapore participating.

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!


How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.