SINGAPORE – olam food ingredients (“ofi”), a global leader in naturally good food & beverage ingredients, announced today that it has secured a two-year revolving credit facility aggregating US$250 million (the “Facility”). ofi was created in early 2020 following the announcement of the re-organisation within Olam International Limited (now Olam Group Limited “Olam Group”) to unlock and maximize its long-term value.
The Facility has Olam Treasury Pte Ltd as a Borrower and is initially guaranteed by Olam Group Limited 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.
DBS has been appointed as the Facility agent.
Olam Group completes the divestment of remaining equity stakes in ARISE IIP and ARISE IS
Olam Group Limited (“Olam Group” or “Company”) refers to its previous announcement on February 11, 2022 on the divestment of remaining equity stakes in ARISE Integrated Industrial Platforms (“ARISE IIP”) and ARISE Infrastructure Services (“ARISE IS”) (the “Transaction”). The Company is pleased to announce that the Transaction has been completed.
With the completion of the Transaction, ARISE IIP and ARISE IS ceased to be related corporation of Olam Group.
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. Its 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.
