Olam Group Limited (SG:VC2) has released an update.
Olam Group’s subsidiary, olam food ingredients (ofi), has successfully obtained a pioneering $500 million financing, split into 5-year and 7-year tranches and backed by the Italian Export Credit Agency, SACE. The funds, orchestrated by leading banks including SMBC and Citibank, will be used for general corporate purposes ahead of ofi’s anticipated IPO and separation from Olam Group. This strategic financial move aims to diversify ofi’s capital sources and extend its debt maturity profile.
For further insights into SG:VC2 stock, check out TipRanks’ Stock Analysis page.