Olam Group's wholly-owned subsidiary Olam Food Ingredients (referred to as ofi) has secured multiple dual-currency term loan financings, totaling USD 1.12 billion (approximately SGD 1.45 billion).
Olam Group announced the relevant matters in a statement released during the market's lunch break on Wednesday (December 10). The financing loans are provided by Olam Treasury, with Olam Group initially acting as the guarantor. However, after ofi's initial public offering and its separation from the group, ofi will take over the guarantee for this loan. The proceeds from the financing will be used to refinance ofi's existing loans and for general corporate purposes.
The financing includes two tranches in USD, totaling USD 775 million, and a loan of CNY 2.415 billion (approximately SGD 440 million).
<h4>Further Reading</h4>
Olam Group's net profit surged 573.2% to SGD 32.38 million in the first half

 Olam Food Ingredients secures SGD 2.7 billion loan financing


This financing involved participation from 12 banks, including Bank of China, Industrial and Commercial Bank of China, HSBC, DBS Bank, and Standard Chartered Bank (Singapore).
As of 3:12 PM, Olam Group's stock price fell by 0.53%, trading at SGD 0.94

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Aolan Group's wholly-owned subsidiary Aolan Food Ingredients has obtained a dual-currency term loan financing of RMB 1.45 billion. The financing is provided by Olam Treasury as the lender, guaranteed by Aolan Group, and will be guaranteed by ofi after its initial public offering. The financing is used for refinancing existing loans and general corporate purposes. The financing includes a loan of USD 775 million and RMB 2.415 billion. 12 banks participated, including Bank of China, HSBC, and others. Aolan Group's stock price fell by 0.53%

- Olam Group's wholly-owned subsidiary, Olam Food Ingredients (ofi), secured a total of $1.12 billion in dual-currency term loan financing.  
- The financing, arranged by Olam Treasury, will initially be guaranteed by Olam Group and later by ofi after its initial public offering and separation from the group.  
- Proceeds will be used to refinance existing loans and for general corporate purposes, with participation from 12 banks including Bank of China and HSBC.

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Aolan Food Ingredients secures RMB 1.45 billion dual-currency term loan financing | Lianhe Zaobao