, Japan

Olam unit secures samurai loan facility of $324.08m

Olam Treasury aims to refinance existing loans and general corporate purposes.

Olam Treasury, a wholly owned subsidiary of agribusiness Olam International, has secured a medium-term samurai loan facility of $324.08m (JPY25b), according to an announcement.

Olam’s managing director and group CFO N Muthukumar said this is the company’s third facility in the Japanese market since 2017 and are a key part of the company’s financing strategy as they help to diversify funding mix and extend loan tenor.

The facility consists of two tranches guaranteed by Olam—a 3-year tranche of $243.13m (JPY18.75b) and a 5-year tranche of $81.03m (JPY6.25b). Proceeds from the facility will be applied towards refinancing of Olam Treasury’s existing loans and general corporate purposes.

MUFG Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation (Singapore Branch), and Development Bank of Japan acted as mandated lead arrangers and bookrunners (MLABs) for the facility. Mizuho Bank is also acting as the facility agent. The loan will also be syndicated by the MLABs in the Japanese loan market.

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