Olam: launches a US$1.25b syndicated loan facility comprising of a US$625m 3-year tranche and a US$625m 5-year tranche. Proceeds will go toward refinancing existing debt, working capital, capital expenditure and expansion of its supply chain business. The loan facility is fully underwritten by the lead arrangers and bookrunners.
Stock currently trades at 15.5X P/E, latest recommendations are largely buy with TP$3.30 - $4.20.
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