, Singapore

Olam acquires $7b financing

The fund consists of a three-year term loan and two 18-month term loans.

Olam International Limited announced the securing of three loan facilities worth approximately $7b (US$ 5.2b).

The three agreements are made up of a $1.6b (US$ 1.2b) three-year term loan and two 10-month bridge loan facilities worth $2.7b (US$2b) each. The three-year term loan will be used for general corporate purposes, whilst the two remaining loans are to be allocated for Olam’s Re-organisation Plan.

Olam’s Group CFO N Muthumkumar stressed the opportunities that these would bring to the company. “This landmark transaction gives us significant flexibility to allocate financing across our three new operating groups as part of our Reorganisation Plan.”

Included in the facility agreements are plans to distribute the facilities to Olam Food Ingredients (OFI), Olam Global Agri (OGA), and Olam International (OIL). 

The term loan, as well as one of the bridge loan facilities, has entities from OFI listed as co-borrowers, whilst the remaining bridge loan has outfits from OGA and OIL listed as additional co-borrowers.

Citibank, JP Morgan Chase Bank, MUFG Bank Ltd, and The Hongkong and Shanghai Corporation (HSBC) were the Senior Mandated Lead Arrangers for the loans, with HSBC being the facility agent.

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!