Olam International prices US$170 million US debt private placement
Olam International Limited (“Olam”) announced today that its wholly-owned subsidiary Olam Americas Inc. (“OAI”) has successfully priced a follow-on US$170 million issuance of 5-year fixed rate notes (the “Notes”) in a private placement, taking the total issuances in the US market to US$345 million.
The Notes were placed to eight investors in the US at a spread of 195 basis points over the 5-year US treasury rate, which translates to a fixed coupon of 3.73% for 5 years.
Proceeds from the issue of the Notes will be used by OAI and its US affiliates for repayment of existing bank debt and general corporate purposes.
Rabo Securities acted as the sole placement agent for the transaction.
About Olam International Limited
Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 18 platforms to 23,000 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 30 largest primary listed companies in Singapore in terms of market capitalisation. In 2016, Fortune magazine recognised Olam at #23 in its ‘Change the World’ list.
More information on Olam can be found at www.olamgroup.com.
Olam is located at 9 Temasek Boulevard #11-02 Suntec Tower Two Singapore 038989,
Telephone: +65 63394100, Facsimile: +65 63399755.
Issued on behalf of Olam International Limited by:
WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120
Contacts For Olam Investor Relations
+65 66031104, 96570339
Chow Hung Hoeng
+65 63179471, 98346335
Contacts For WATATAWA Consulting