Olam prices US$120m of notes in private placement

The Olam International office at Straits View, Marina One East Tower.
The Olam International office at Straits View, Marina One East Tower.PHOTO: OLAM INTERNATIONAL

SINGAPORE - Olam International on Tuesday (May 21) said its wholly-owned subsidiary Olam Americas Inc (OAI) has successfully priced a US$120 million (S$165 million) issuance of five-year fixed rate notes via a private placement.

The notes were placed to nine investors at a fixed coupon of 3.89 per cent for five years.

Proceeds from the notes issue will be used by OAI and its US affiliates for the repayment of existing debt and general corporate purposes.

Rabobank acted as the sole placement agent for the transaction.