Singapore-based Olam Group, one of the world’s biggest agricultural conglomerates, has secured a US$1.5 billion loan facility for its wholly owned subsidy Olam Holdings.

The facility has Olam Holdings as borrower with a tenor of 1.5 years and is guaranteed by Olam Group.

Proceeds from the facility will be applied towards refinancing existing debt of Olam Group.

Citibank, Emirates NBD Bank and HSBC are the senior mandated lead arrangers for the facility, and HSBC is the facility agent.