Olam Agri secured a $2.9bn facility with a 3Y tenor to refinance its existing loans, and for other corporate objectives. The loan is based on Poseidon Principles, a framework for including climate considerations into lending decisions to encourage global shipping’s decarbonization. Business Times notes that the facility is guaranteed by Olam Group with Olam Agri’s subsidiaries like Olam Global Agri and Olam Global Agri Treasury, as the co-borrowers. Olam Agri is the food, feed and fibre operating business of Olam Group.
Olam Agri’s SGD 4% 2026s were up 0.3 cents on the dollar to 94.06, yielding 5.%.
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