SINGAPORE
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April 5, 2024
(press release)
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Get in Touch with Our CR&S TeamGet in Touch with Our CR&S TeamGet in Touch with Our Media Team Singapore Olam Group Limited (“Olam Group”) announced today that its food, feed and fibre operating group, Olam Agri, has secured a commodity Murabaha facility (“the Facility”) from a diversified group of global investors (including U.A.E., Malaysia, Singapore and Hong Kong) totalling US$625 million. N Muthukumar, Group CFO of Olam Group and CEO of Operations at Olam Agri said: “This landmark commodity Murabaha financing further diversifies Olam Agri’s funding mix with access to a new investor pool which provides financing on the basis of Shariah principles.” The Facility has Olam Agri subsidiaries Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as purchasers with a tenor of three years. The Facility is initially guaranteed by Olam Group which will transfer to Olam Agri post the planned IPO and demerger of Olam Agri. Proceeds from the Facility will be applied towards general corporate purposes. Emirates NBD Capital Limited and Abu Dhabi Commercial Bank are the Global Shariah Co-ordinators for this Facility. Abu Dhabi Commercial Bank, Emirates NBD Bank, and First Abu Dhabi Bank (“FAB”) are the Senior Mandated Lead Arrangers for the Facility, while Citibank N.A., Credit Agricole Corporate and Investment Bank, HSBC Amanah, Mizuho Bank Ltd, MUFG Bank (Malaysia) Berhad, and Standard Chartered Bank are the Mandated Lead Arrangers. Emirates Islamic Bank is Lead Arranger and FAB is the Investment Agent. DownloadContacts for Olam Investor Relations:Contacts for WATATAWA
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