Olam prices JPY9b 5-year notes at 1.61% in private placement

MAINBOARD-LISTED Olam International O32 has priced JPY 9 billion (US$81 million) five-year notes due 2026, via a private placement, the food and agri-business company said on Thursday in a bourse filing.

The private placement is part of Olam's US$5 billion euro medium term note programme. The notes were issued at a fixed coupon of 1.61 per cent, payable semi-annually in arrears. It will mature on September 2, 2026.

Societe Generale (Singapore) was the sole manager and swap dealer for this transaction.

Olam said the proceeds will be used by it and its subsidiaries for working capital and general corporate purposes, "including financing capital expenditure and potential acquisition opportunities which the group may pursue in the future as part of its strategic objectives".

Shares of Olam ended Thursday at S$1.62, down S$0.01 or 0.6 per cent.