Catch up on the latest Olam news and delve more into how we’re driving innovation and change through our blog series.
Latest on Olam
21st May, 2019
Olam International prices US$120 million US debt private placement
Olam International Limited (“Olam”) announced today that its wholly-owned subsidiary Olam Americas Inc. (“OAI”) has successfully priced a US$120 million issuance of 5-year fixed rate notes (the “Notes”) via a private placement. The Notes were placed to 9 investors at a fixed coupon of 3.89% for 5 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.
Rabobank acted as the sole placement agent for the transaction.
Olam International Q1 2019 PATMI up 6.9% at S$168.8 million
EBITDA grew 14.2% to S$420.3 million on increased contribution from Edible Nuts and Cocoa
PATMI up 6.9% at S$168.8 million as higher operating performance (EBITDA) was partly offset by increased depreciation and finance costs
Positive Free Cash Flow to Equity of S$313.0 million
Improved net gearing to 1.35x from 1.49x a year ago
Indonesia has become my second home since I moved to its capital, Palu, in 2007 to lead a team of more than thirty people who form the heart of Olam Cocoa’s two-decade long operation in the country. I have witnessed the impact the 7.5-magnitude earthquake and tsunami have had on the country and its people, both in the immediate aftermath and up to the present day.
The Indonesian government has indicated that the total confirmed number of casualties is 2,256 and have mainly occurred in Palu and the areas of Sigi and Donggala. Many more people have been reported missing and 235,000 have been evacuated from these areas since the disaster. In monetary terms, over USD$900 million worth of damage has been inflicted upon the country.
I was one of the first to reach the disaster zone and although, thankfully, none of our employees were harmed, thousands of people were left without basic supplies. Within days, we were able to begin sending regular vehicles carrying items such as food, water,
Turning risk into opportunity: How to keep more of the world's forests intact
Simon Brayn-Smith, Global Head of Sustainability Olam Cocoa reflects on the cocoa sector’s role in deforestation and what industry can do about it.
It’s no secret that the earth’s forests are shrinking at an alarming rate. According to the World Bank, an area larger than South Africa (502,000 square miles) was lost between 1990 and 2016.
Agriculture is one of the largest drivers of this deforestation and the role of cocoa farming in particular has become the focus of much public and private debate. Anyone in the cocoa industry is acutely aware of the challenge at hand: creating sustainable livelihoods for communities who rely on cocoa farming for their survival whilst preserving forest landscapes for future generations.
Undoubtedly, the cocoa industry has been part of the problem, but we can also be a catalyst for change. The Cocoa & Forests Initiative (CFI) is a prime example of the impact collective action can have on combating deforestation in the world’s two lar