Olam’s food, feed and fibre operating group Olam Agri has secured a US$550 million ($743.81 million) revolving credit facility.
The facility has Olam Agri subsidiaries — Olam Global Agri and Olam Global Agri Treasury — as borrowers with a tenor of three years.
The facility is initially guaranteed by Olam Group VC2 , to be transferred to Olam Agri upon demerger.
Proceeds will be applied towards refinancing of Olam Agri’s existing loans and for general corporate purposes.
As at 2.47pm, shares in Olam are trading 1 cent higher, or 0.87% up, at $1.15.
