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UPDATE 1-Olam Agri secures $625 million shariah-compliant financing facility

Reuters SG
·1-min read

(Adds details and comment from statement in paragraph 2 to 4)

SINGAPORE, April 4 (Reuters) - Singapore's Olam Group said on Thursday that its food, feed and fibre operating unit, Olam Agri, had secured a $625 million shariah-compliant financing facility from a diversified group of global investors.

The investors include those from the United Arab Emirates, Malaysia, Singapore and Hong Kong, according to a statement. It added that proceeds would be used for general corporate purposes.

Olam Group Chief Financial Officer N Muthukumar said in the statement that the financing further diversified the company's funding mix with access to a new investor pool.

Olam Agri is 64.6% owned by Olam Group, with the remaining 35.4% held by SALIC International Investment Company. (Reporting by Yantoultra Ngui; Editing by Jason Neely and Mark Potter)