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Olam International prices US$100m US debt private placement
OLAM International on Thursday announced that its wholly-owned subsidiary Olam Americas Inc (OAI) has successfully priced a US$100 million issuance of 5-year fixed-rate notes via a private placement.
The notes were placed to four investors in the US at a spread of 160 basis points over the 5-year US treasury rate, which translates to a fixed coupon of 4.35 per cent for five years.
Proceeds from the issue of the notes will be used by OAI and its US affiliates for repayment of existing debt and general corporate purposes.
Wells Fargo Securities LLC acted as the sole placement agent for the transaction.