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Unit of Singapore's Olam Group secures $1.98bn sustainability loan

19 banks are providing multitranche debt facility to Olam Food Ingredients

Singapore-listed commodity trader Olam Group's food and agribusiness includes farming, processing and distribution operations.   © Reuters

SINGAPORE -- Olam Food Ingredients (OFI), a wholly owned subsidiary of Singapore-listed commodity trader Olam Group, has obtained a multiple-tranche, sustainability-linked debt facility of $1.975 billion from 19 banks across Australia, Canada, Europe, Japan, Singapore, the Middle East and the U.S.

The loan will initially be guaranteed by the Olam Group and will eventually be transferred to OFI after its initial public offering and demerger from the group, according to a regulatory filing on Wednesday.

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