Singapore based Olam International Limited announced on May 14 that it had secured a 2Y committed loan facility worth $1bn through its subsidiary Olam Holdings. The global food and agri-business leader intends to use the proceeds to finance the acquisition of Olde Thompson (OT), a leading manufacturer of private label spices, seasoning, baking ingredients and spice-related housewares in the US. BNP Paribas , DBS Bank, HSBC, Mizuho Bank, MUFG Bank
and Standard Chartered Bank
participated as senior mandated lead arrangers of the facility. HSBC is the Facility Agent. The acquisition of OT Holdings
on April 29, when the book value and net tangible asset value of OT Shares was approximately $379.6mn and $126.4mn respectively. The company had also announced on May 6 that it along with a consortium had been awarded a bid
to acquire one of the two flour milling companies offered for privatization in Saudi Arabia.