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Olam Agri secures AED 2,740 mn revolving credit facility
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Monday, 01 July, 2024, 08 : 00 AM [IST]
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Singapore
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Olam Group Limited, announced that its food, feed and fibre operating group, Olam Agri, has secured a financing facility from banks in the United Arab Emirates aggregating AED 2,740 million (approximately $745 million).
The facility has the following subsidiaries Olam Global Agri Pte. Ltd., and Olam Global Agri Treasury Pte. Ltd., as borrowers with a tenor of three years. The facility is initially guaranteed by the group which will transfer to Olam Agri upon demerger. Proceeds from the facility will be applied towards refinancing of its existing loans and for general corporate purposes.
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