Olam unit prices US$275m US private placement

OLAM Americas, a wholly-owned subsidiary of Olam International O32 , has priced a US$275 million private placement of 5 and 7-year fixed rate notes, the agri-food giant said on Tuesday (Jan 25).

The issuance comprises US$200 million of 5-year fixed rate notes, priced at a coupon of 3.05 per cent, and US$75 million of 7-year fixed rate notes, priced at 3.25 per cent.

Olam expects the transaction will close on Feb 16, 2022.

Proceeds from the issue will be used by Olam Americas and its US affiliates for general corporate purposes, the company said.

ING Financial Markets was the sole placement agent for the transaction.

Shares of Olam International closed down S$0.04 or 2.33 per cent at S$1.68 on Tuesday.

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