SINGAPORE – Olam Group Limited (“Olam Group”) announced today that its wholly-owned subsidiary, olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, has secured a multi-tranche medium-term samurai loan facility aggregating JPY 46 billion or US$327.6 million (the “Facility”).
ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group) to unlock and maximize its long-term value.
The Facility has Olam Treasury Pte Ltd as a Borrower and comprises (i) a 3-year tranche of JPY 40.5 billion, and (ii) a 5-year tranche of JPY 5.5 billion.
The Facility is initially guaranteed by Olam Group which will transfer to ofi Group Limited post the planned IPO and demerger of ofi. Proceeds from the Facility will be applied towards refinancing of ofi’s existing loans and for general corporate purposes.
MUFG Bank Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation and Development Bank of Japan Inc. acted as Mandated Lead Arrangers and Bookrunners for the Facility, with MUFG Bank Ltd. acting as Facility Agent.
About ofi
olam food ingredients (“ofi”) is a new operating group born out of Olam. ofi offers sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love. It consists of industry-leading businesses of cocoa, coffee, dairy, nuts, and spices. ofi has built a unique global value chain presence including its own farming operations, farm-gate origination, and manufacturing facilities. ofi partners with customers, leveraging its complementary and differentiated portfolio of ‘on-trend’ food products, to co-create solutions that anticipate and meet changing consumer preferences as demand increases for healthier food that’s traceable and sustainable.
