Company Briefs: Olam

Olam Group's food, feed and fibre operating business Olam Agri has obtained a US$2.9 billion (S$4 billion) facility with a three-year tenor to refinance its existing loans, and for general corporate purposes.

The loan is based on Poseidon Principles, a framework for integrating climate considerations into lending decisions.

The facility saw participation from a "large and diverse group" of 16 lenders including DBS Bank, MUFG Bank and Natixis - which also served as joint Poseidon Principles programme co-ordinators for the facility.

THE BUSINESS TIMES

Peloton Interactive said it will sell its bikes and certain accessories through Amazon.com in the United States, breaking with a practice of selling its products only on its own website. The move will help Peloton expand its distribution and make products more readily available, the New York-based company said in a statement yesterday.

"Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand," Mr Kevin Cornils, Peloton chief commercial officer, said in the statement.

BLOOMBERG

Ping An Insurance (Group), China's largest insurer by market value, posted an unexpected rise in its first-half profit as it withstood pandemic-induced lockdowns and impairments losses fell.

Net income climbed 3.9 per cent from a year earlier to 60.3 billion yuan (S$12.2 billion), the Shenzhen-based company said in a filing to the Hong Kong stock exchange.

Operating profit, which the insurer says better reflects performance by stripping out short-term investment volatility and one-time items, rose 4.3 per cent.

BLOOMBERG