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Singapore's Olam International secures $1.25 billion credit facility
By William Gullotti
Buffalo, N.Y., Nov. 15 – Olam International Ltd. announced that it and wholly owned subsidiary Olam Treasury Pte. Ltd. secured a $1.25 billion multi-tranche credit facility, according to a notice on Monday.
The two-tier facility consists of a $1.025 billion revolver and a $225 million term loan. The revolver is further divided into three tranches: $205 million with a one-year tenor, $410 million with a two-year tenor and $410 million with a three-year tenor.
ANZ Banking Group Ltd., BNP Paribas, DBS Bank Ltd., First Abu Dhabi Bank PJSC, Mizuho Bank Ltd. and National Australia Bank Ltd. were the senior mandated lead arrangers for the facility.
Commonwealth Bank of Australia, Hang Seng Bank Ltd., ING Bank NV, MUFG Bank Ltd., Natixis and Scotiabank (BNS Asia Ltd.) also served as mandated lead arrangers.
Also serving as lead arrangers were Banco Bilbao Vizcaya Argentaria SA, Emirates NBD Bank, Sumitomo Mitsui Banking Corp. and Westpac Banking Corp.
HSBC was the facility agent.
Proceeds from the facility will be applied toward refinancing existing loans of Olam and its subsidiaries.
Olam is a Singapore-based provider of supply chain management for agricultural products and food ingredients.
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