Olam Palm Gabon closes loan

Olam Palm Gabon closes loan

Published: July 27, 2012

Ecobank Capital leads US$228mn deal to fund new palm oil plantation.

Olam Palm Gabon (OPG) has raised a US$228mn syndicated loan to fund a new palm oil plantation.

OPG is a 70:30 joint venture between Olam International, a processor of agricultural products, and the Republic of Gabon.

The loan comprises a 10-year US$20mn tranche denominated in CFA and a seven-year US$208mn tranche denominated in CFA and euros. The second tranche is likely to be placed with international development finance institutions at a later date.

Ecobank Capital acted as mandated lead arranger alongside co-arranging banks Afreximbank and BGFI Bank Gabon.

The Central African Development Bank participated as a lender.