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Olam Group ( (SG:VC2) ) has provided an update.
Olam Group’s subsidiary, olam food ingredients (ofi), has secured a US$350 million term loan facility with a two-year tenor, initially guaranteed by Olam Group Limited. The loan, involving DBS and ICBC as lead arrangers, will be used for refinancing existing loans and general corporate purposes, with the guarantee transferring to ofi Group Limited following its planned IPO and demerger. This financial move is expected to support ofi’s operational flexibility and strategic positioning in the global food and beverage ingredients market.
More about Olam Group
Olam Group is a leading food and agri-business that supplies food, ingredients, feed, and fiber to nearly 22,000 customers globally. With operations spanning over 60 countries, Olam’s value chain includes farming, processing, and distribution, supported by a global network of farmers. The company is headquartered and listed in Singapore and ranks among the top 30 largest primary listed companies on SGX-ST. Olam is committed to re-imagining global agriculture and food systems to address the challenges of a growing global population while achieving positive impacts for farming communities, the planet, and stakeholders.
YTD Price Performance: -31.13%
Average Trading Volume: 28,283
Technical Sentiment Signal: Buy
Current Market Cap: $2.78B
See more data about VC2 stock on TipRanks’ Stock Analysis page.