Olam secures 26.7 billion yen samurai loan facility

Yen notesYen notes

Olam International’s wholly owned subsidiary Olam Treasury has secured a medium-term samurai loan facility of a total 26.7 billion yen, the agri-business and food player said in a filing to SGX Wednesday.

Samurai loans are cross-border syndicated loans denominated in yen for non-Japanese borrowers.

The facility is in two tranches, a three-year tranche of 20.7 billion yen and a five-year tranche of 6.0 billion yen, guaranteed by Olam, the filing said.

Olam said the proceeds will be used to refinance existing loans and for general corporate purposes.

The mandated lead arrangers and bookrunners of the facility are MUFG Bank, Mizuho Bank, , Sumitomo Mitsui Banking Corp.’s Singapore branch and the Development Bank of Japan, the filing said. MUFG Bank acted as the facility agent, the filing said.