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Olam International, a leading agribusiness company, has secured a $2 billion revolving credit facility to refinance its existing debt portfolio. According to a statement released on Thursday, the facility is in three tranches, which are – a 364-day revolving credit facility of $400 million, a 2-year revolving credit facility of $800 million, and a 3-year revolving credit facility of $800 million.

“We are extremely pleased to have concluded this refinancing which helps to optimise the overall tenor of our debt portfolio,” said Neelamani Muthukumar, Olam’s Group Chief Financial Officer. “We would like to thank our banking partners for their strong support and continuing commitment for this transaction.”

Several global banks participated in the refinancing deal mostly through their Singaporean branches. They include Australia and New Zealand (ANZ) Banking Group, Barclays Bank, BNP Paribas, Commerzbank, JP Morgan Chase Bank, ING Bank, and Credit Suisse.

Since the start of the year, Olam has been trying to reorganize its debt portfolio as the company seeks to raise adequate funds to finance investment projects and acquisitions across the world. In April, the company secured a $650 million credit facility from global banks to “refinance existing debt, meet working capital, and provide general corporate funding requirements.” The company also signed a five-year $175 million loan agreement with the International Finance Corporation to fund “permanent working capital and capital expenditure requirements” for food processing facilities in Nigeria and India.

Based in Singapore, Olam is the largest agricultural export company in Nigeria, dealing in the export of cocoa, cashew, sesame, and cotton. The company owns OK Foods Limited, a biscuit and confectionary maker; Olam Sanyo, a noodles maker; Caraway Foods, makers of culinary ingredients; Ranona Nigeria Limited, makers of breakfast cereals, juices and beverages. In January this year, Olam paid $275 million to acquire the wheat and pasta businesses of Bua Group, making the Singapore-based company one of the largest wheat millers in Nigeria.