Olam International, a global agri-business operating in 70 countries, secured a revolving credit facility aggregating $2 billion with an international syndicate of more than 20 banks.
The facility consists of three tranches: a 364-day revolving credit facility of $400 million, a two-year revolving credit facility of $800 million and a three-year revolving credit facility of $800 million.
Proceeds from the facility will be applied towards refinancing the company’s existing syndicated and bilateral bank loans.
Australia and New Zealand Banking Group, The Bank Of Tokyo-Mitsubishi, Barclays Bank, BNP Paribas, Commerzbank, Rabobank, DBS Bank, The Hong Kong and Shanghai Banking, ING Bank, JPMorgan Chase, The Korea Development Bank, Mizuho Bank, Natixis, National Australia Bank Limited, Standard Chartered Bank, Sumitomo Mitsui Banking and Westpac Banking are senior mandated lead arrangers for the facilities. Banco Bilbao Vizcaya Argentaria, BNS Asia Limited, Commonwealth Bank of Australia and Credit Suisse are mandated lead arrangers for the facility.
Olam’s Group CFO, N. Muthukumar said, “We are extremely pleased to have concluded this refinancing which helps to optimize the overall tenor of our debt portfolio. We would like to thank our banking partners for their strong support and continuing commitment for this transaction.”
Singapore-based Olam International supplies various products across 16 platforms to over 16,200 customers worldwide.