SINGAPORE – Leading global food and agri-business, Olam International (“Olam’’), has announced that its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), has successfully completed the syndication of its medium-term samurai loan facility (the “Facility”) which was announced on 8 July 2020. Post syndication, the Facility was increased from the initial launch size of JPY 25 billion to JPY 38.85 billion.
The Facility consists of two tranches: (i) a 3-year tranche of JPY 27.60 billion, and (ii) a 5-year tranche of JPY 11.25 billion, guaranteed by Olam.
N Muthukumar, Managing Director and Group CFO of Olam said:
“We are very pleased with the completion of the general syndication that demonstrates our strong and continued access to committed funding across different pools of capital. I am particularly pleased with the over-subscription in both the 3 and 5 year tranches that upsized the facility from JPY25 billion to JPY38.8 billion. I would like to thank the 4 lead banks and the 12 participating banks for their support.”
In addition to MUFG Bank Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation (Singapore Branch) and Development Bank of Japan Inc. who acted as Mandated Lead Arrangers and Bookrunners (MLABs), the Facility saw participation from 12 Japanese and international banks. Sumitomo Mitsui Banking Corporation (Singapore Branch) and Barclays Bank Plc were the swap providers for the Facility.
