Olam issues US$50 million in private placement of 5-year notes

MAINBOARD-LISTED agribusiness Olam International has issued US$50 million in private placement of five-year senior notes.

The notes were issued to an institutional investor at a fixed coupon of four per cent and will mature on Jan 22, 2020.

The net proceeds from this issue will be used by Olam to fund its ordinary course of business.

This issuance falls under Olam's US$5 billion Euro Medium Term Note Programme, which was established on July 6, 2012.

The Hong Kong and Shanghai Banking Corporation Limited acted as sole manager for the transaction issue.