PALMOILMAGAZINE, SINGAPORE – Wilmar International Limited has increased its syndicated loan facility from US$1.5 billion to US$1.8 billion after receiving strong interest from financial institutions during the syndication process, resulting in the facility being significantly oversubscribed.
According to the company, the financing package consists of a five-year revolving credit facility worth US$1.44 billion and a five-year term loan facility totaling US$360 million.
The syndicated financing was arranged by a group of major financial institutions acting as mandated lead arrangers and bookrunners (MLABs), including Bank of China Singapore Branch, DBS Bank, HSBC Singapore Branch, Maybank Securities and its affiliates, Oversea-Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB).
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In total, the facility attracted support from 48 lenders, comprising six MLABs and 42 participating financial institutions. HSBC serves as the sole coordinator and facility agent for the transaction.
The loan facility was extended to Wii Pte. Ltd., a wholly owned subsidiary of Wilmar International, with a corporate guarantee provided by the parent company. Proceeds from the financing will be used to refinance existing borrowings and support the group’s general corporate and working capital requirements.
Charles Loo Cheau Leong, Deputy Chief Operating Officer and Chief Financial Officer of Wilmar, said the enlarged facility enhances the group’s funding flexibility amid ongoing uncertainties in global markets.
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“This transaction strengthens the Group’s funding flexibility and balance sheet resilience. We appreciate the continued support from our banking partners, which reflects their confidence in our management team and long-term strategy,” Charles Loo said in a company statement.
Wilmar noted that the strong participation from the banking community underscores confidence in the company’s long-term prospects and business fundamentals.
As one of Asia’s largest agribusiness groups, Wilmar operates an integrated business model spanning the entire agricultural commodity value chain, from sourcing and processing to branding, trading, and distribution of food and industrial products.
The Singapore-based company manages more than 1,000 manufacturing facilities and maintains an extensive distribution network across China, India, Indonesia, and approximately 50 other countries and regions worldwide. The expanded financing facility is expected to further support Wilmar’s operational growth and financial stability as it continues to strengthen its global agribusiness footprint. (P2)
