Olam Group’s arm OFI secures $1.98b sustainability loan from 19 banks

Olam Group’s arm OFI secures $1.98b sustainability loan from 19 banks

OFI's food products include cocoa, coffee, dairy, nuts, and spices.

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

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

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