SINGAPORE – Olam International Limited (“Olam’’ or “the Company”), a leading agri-business operating across the value chain in 65 countries, announced today that it has secured a US$800 million revolving credit facility (the “Facility”) for its US subsidiaries.
The Facility consists of a two-year and three-year tranche of US$400 million each. Proceeds from the Facility will be used to refinance existing debt, as well as to finance the working capital needs of the Company’s subsidiaries in the US and for general corporate purposes.
The Company has appointed ABN AMRO Capital USA LLC, Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, Commerzbank AG, New York Branch, Credit Suisse AG, Singapore Branch, HSBC Bank USA, National Association, ING Bank N.V., J.P. Morgan Securities LLC, Mizuho Bank, Ltd., Natixis, New York Branch, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland,” New York Branch and Standard Chartered Bank as Joint Lead Managers and Bookrunners for the Facility.
Olam’s Executive Director of Finance and Business Development, A. Shekhar said: “We are very pleased to complete this Facility which will be used to refinance our existing US$400 million loan and to support our growing businesses in the US.
This Facility will help optimise our debt tenor and reduce the overall borrowing cost. We would like to thank our banking partners for their continuing support and commitment for this transaction.”