Wednesday, March 18, 2009

Olam International increases trade facility to US$170m

INGAPORE: Global supply chain manager Olam International said it has renewed and increased a one-year multi-currency trade facility to US$170 million.

The company said the funds will be used to finance its cocoa and coffee operations and for working capital in its businesses in Nigeria and Ivory Coast.

The facility was granted by a number of banks, including Standard Chartered, ING Bank, Bank of Tokyo-Mitsubishi UFJ, and Sumitomo Mitsui Banking Corporation.

CNA

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