Olam Food Ingredients (OFI), a wholly owned subsidiary of food and agribusiness conglomerate Olam Group, has secured a medium-term samurai loan facility amounting to 46.5 billion yen (US$327.37 million).  

The three-year tranche is initially guaranteed by Olam Group and will transfer to OFI Group following the latter’s planned initial public offering and demerger. Olam Treasury is registered as the borrower.

Proceeds from the facility will be used to refinance OFI’s existing loans and for general corporate purposes.  

Japanese lenders MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation acted as mandated lead arrangers and bookrunners for the facility, with MUFG Bank acting as the facility agent.  

Singapore-listed Olam Group focuses on sustainable agriculture. OFI offers natural, value-added food products across cocoa, coffee, dairy, nuts, and spices.

Also this year, Olam has secured a US$625 million Shariah-compliant financing facility from a diversified group of global investors for Olam Agri, its food, feed and fibre operating group. Olam Agri also secured a US$500 million revolving credit facility, the proceeds of which will be used to refinance existing loans and for general corporate purposes

Last month, Olam Group secured a US$1.5 billion loan for its wholly owned subsidiary Olam Holdings, with a tenor of 1.5 years and is guaranteed by Olam Group. Citibank, Emirates NBD Bank, and HSBC were the senior mandated lead arrangers for the facility.