Multinational agribusiness company Olam has finalised a revolving credit and term loan facility for a total of US$1bn.

The facility is divided in two tranches, a US$850mn 364-day revolving credit facility (RCF) and a US$150mn five-year term loan. It will be used to refinance existing debt and to meet working capital and general corporate funding requirements.

ANZ, Banco Bilbao Vizcaya Argentaria, The Bank of Nova Scotia Asia, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Commerzbank, Commonwealth Bank of Australia, Coöperatieve Centrale Raiffeisen-Boerenleenbank, DBS, HSBC, Intesa Sanpaolo, JP Morgan, The Korea Development Bank, Mizuho, National Australia Bank, Natixis, Standard Chartered, SMBC and Westpac were appointed mandated lead arrangers (MLAs) for the facility.

“This refinancing is a part of our proactive capital management strategy of diversifying our debt portfolio and achieving an optimum mix of tenor and overall borrowing cost. We would like to thank our banking partners for their strong support and continuing commitment for this transaction,” says Anantharaman Shekhar, Olam’s executive director of finance and business development.