Olam International Limited has secured a US$150 million ($205 million) club loan referencing the USD Secured Overnight Financing Rate (SOFR) with DBS and Industrial and Commercial Bank of China, Singapore Branch (ICBC Singapore).

The facility has a one-year tenor with Olam Treasury as a co-borrower. Proceeds from the facility will be used for general corporate purposes of Olam and its subsidiaries.

The facility agreement also allows for the carve-out, separation, and proposed demerger and IPO of ofi as per Olam’s re-organisation plan. 

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