Olam obtains US$375 million European credit facility

Palm oil plantation in Sumatra, IndonesiaPalm oil plantation in Sumatra, Indonesia

Olam International’s wholly owned subsidiary Olam Holdings B.V. (OHBV) has obtained a revolving credit facility totaling US$375 million, the company said in a filing to SGX after the market close Wednesday.

The facility has a 364-day tenor, with a option to extend for another 364 days, the filing said.

The proceeds will be used toward refinancing OHBV’s syndicated loan and bilateral bank loans of Olam and its subsidiaries, Olam said.

The lenders for the facility were KfW IPEX-Bank GmbH, Erste Group Bank AG;s London branch, Intesa Sanpaolo Bank Luxembourg S.A.’s Amsterdam branch, ABC International Bank PLC’s Frankfurt branch, DZ BANK AG, Deutsche Zentral-Genossenschaftsbank’s Singapore Branch, Bank of Baroda’s Singapore Branch, Sumitomo Mitsui Banking Corp. Singapore Branch, Wells Fargo Bank, National Association, UniCredit Bank AG’s Singapore Branch, Habib Bank AG Zurich & AKA Ausfuhrkredit-Gesellschaft GmbH.

KfW IPEX-Bank is the facility agent, the filing said.

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