N Muthukumar, Group CFO of Olam said: “This facility supports Olam’s procurement of sustainable cotton via the Better Cotton Initiative, while combining Olam’s operational ability, leadership position in cotton and sustainability focus with the banks’ objective of supporting more financing linked to sustainable activities.”
Food and agri-business company Olam International has secured a US$150 million ($205 million) loan linked to the procurement of sustainable cotton under the Better Cotton Initiative (“BCI”).
Natixis is sole lender and BCI Coordinator for the loan which has a 2-year tenor. Olam says proceeds from the loan will be used for procurement of sustainable cotton.
