Olam prices US$100m 5-year notes at 3.25% in private placement

MAINBOARD-LISTED Olam International has priced US$100 million in five-year notes due 2026, via a private placement, the food and agri-business firm said on Wednesday night in a Singapore Exchange announcement.

Part of Olam's US$5 billion euro medium term note programme, the notes will be issued on March 31, 2021 at a fixed coupon of 3.25 per cent, payable semi-annually in arrears.

Scotiabank was the sole manager 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".