Olam completes US$400m debt refinancing

The world’s largest coffee trader, Olam International Limited has announced that it has secured a revolving credit facility aggregating US$400 million. Olam Treasury Pte Ltd, which is a 100 per cent owned subsidiary of Olam, is a co-borrower and the facility is guaranteed by the company. The facility consists of three tranches – a 364-day revolving credit facility of $160 million, a 2-year revolving credit facility of $120 million and a 3-year revolving credit facility of $120 million. Proceeds from the facility will be applied towards refinancing of existing loans of the company and its subsidiaries.
The company has appointed Australia and New Zealand Banking Group Limited, Credit Suisse AG, Singapore Branch, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, JPMorgan Chase Bank, N.A., Singapore Branch and Standard Chartered Bank, as Mandated Lead Arrangers for the Facility. Jayant Parande, President and Global Head of Treasury & Investor Relations of Olam said: “We are pleased to have secured this refinancing which extends our debt maturity profile at a competitive cost. We would like to thank our banking partners for their strong support for this loan transaction.”

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