now loading...
Wealth Asia Connect Treasury & Capital Markets Europe ESG Forum TechTalk
ESG Investing / Treasury & Capital Markets
OFI secures US$1.98 billion sustainability loan
Singapore food supplier's interest margin linked to achieving targets across ESG areas
The Asset 30 Aug 2022

Singapore-based food and beverage ingredient supplier Olam Food Ingredients (OFI) has secured a multi-tranche sustainability-linked US$1.975 billion facility, whose proceeds will be applied towards refinancing of its existing loans and for general corporate purposes.

The facility comprises a two- and three-year revolving credit facility and a three-year term loan. The interest margin on the facility is linked to the achievement of sustainability targets across environmental, social and governance (ESG) areas and could be reduced if those targets are met.

“Sustainability is at the heart of our operations,” says Rishi Kalra, OFI’s executive director and group CFO. “This facility is fully aligned with our growth strategy to deliver sustainable, natural, value-added food and beverage ingredients and solutions, through a diverse channel mix, to customers across the globe.”

A total of 19 banks from Australia, Canada, Europe, Japan, Middle East, Singapore and the United States participated in the facility across four tiers. Joint sustainability coordinators and senior mandated lead arrangers are ANZ, BBVA, DBS Bank, Mizuho Bank, Natixis, Banco Santander and SMBC.

Senior mandated lead arrangers are ADCB, BNP Paribas, HSBC, MUFG Bank, Standard Chartered Bank, Unicredit Bank, Scotiabank, Barclays Bank, Citigroup, Commonwealth Bank of Australia, Erste Group Bank and Westpac Banking Corporation. HSBC is the facility agent.

Conversation
Davide Pacheco
Davide Pacheco
group CFO & CEO, APAC
Amarenco Group
- JOINED THE EVENT -
7th Asia Sustainable Infrastructure Finance Leaders Dialogue
Infrastructure of the future
View Highlights
Conversation
Edmund Leong
Edmund Leong
managing director and head of group investment banking
UOB
- JOINED THE EVENT -
17th Asia Bond Markets Summit
Resilience in an age of uncertainty
View Highlights

Advertisement