Olam to redeem US$750 million bonds due 2018

OLAM International will redeem US$750 million bonds due 2018 on Feb 27, it said on Wednesday.This will be done at 103.375 per cent of the principal amounts of the bonds, together with unpaid accrued interest.

The agri-commodities firm, which is in the midst of revamping its capital structure, earlier in January issued US$50 million in senior notes due 2020 to an institutional investor at a fixed coupon rate of 4 per cent. This was part of the US$5 billion Euro medium term note programme it established on July 6, 2012, and updated on July 14, 2014.