Major food and agri-business company, Olam International has secured $5.2bn in financing across three loan facilities as it moves forward with its business reorganisation plans. Olam announced earlier this week that the three facilities comprise a $1.2bn 3Y loan and two 18-month bridge loan facilities of $2bn each. The loans will be used for Olam’s general corporate purposes and Olam’s reorganisation plans respectively. Olam’s group CFO Neelamani Muthukumar said, “This landmark transaction gives us significant flexibility to allocate financing across our three new operating groups as part of our reorganisation plan”. As part of its reorganisation plans, Olam plans to list Olam Food International (OFI) by the first half of 2022.
Olam’s 4% 2026s are flat at 101, yielding 3.75%.
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