Singapore's Wilmar International ups syndicated facility to $1.7 billion

By Mary-Katherine Stinson

Lexington, Ky., June 30 – Wilmar International Ltd. announced that the syndicated revolving credit facility of wholly owned subsidiary Wii Pte. Ltd. has been upsized to $1.7 billion from $1.2 billion due to oversubscription during syndication, according to a notice.

The launch of the facility was announced April 11 on the signing of the mandate letter. The two-tranche facility is made up of a five-year revolving credit facility totaling $702.5 million and a five-year term loan facility totaling $997.5 million.

It is arranged by Bank of China Ltd., Singapore Branch, DBS Bank Ltd., HSBC, MUFG Bank, Ltd., Oversea-Chinese Banking Corporation Ltd. and United Overseas Bank Ltd., each acting as an original mandated dead arranger and bookrunner.

HSBC is the sole coordinator, facility and documentation agent.

In total, there are 37 lenders.

The facility, which is guaranteed by Wilmar International Ltd., will be used to finance general corporate and working capital requirements including debt refinancing.

Based in Singapore, Wilmar is an agribusiness company with activities in oil palm cultivation; oilseeds crushing; edible oils refining; sugar, specialty fats, oleochemicals and biodiesel manufacturing; and grains processing.

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