Press Release

    Olam International Limited Prices US$300 Million 5.5 Year Senior Notes Due 2020 Under Its Euro Medium Term Note Programme

    Press release

    Olam International Limited (“Olam’’), a leading agri-business operating across the value chain in 65 countries, today priced a benchmark US$300 million issuance of 5.5 year Senior Notes due 2020 (the “Offering“) under its US$5,000,000,000 Euro Medium Term Note Programme (the “EMTN Programme“).

    The Offering was successfully priced following an intraday book-building exercise, and attracted diverse participation with over 80 investors placing orders, resulting in an over-subscribed orderbook. In addition to demand from private banking accounts, the Offering also saw strong participation from institutional investors such as fund managers and banks, which collectively were allocated 30% of the Offering. In terms of geographical distribution, approximately 64% was allocated to Asian investors, with the remainder allocated to European investors.

    The Offering was issued at 99.337% of the principal amount and priced at a final coupon of 4.50%, which was within the initial guidance. This transaction is in line with Olam’s long-term funding strategy of diversifying its borrowing mix across sources and tenors in a cost-effective manner.

    The Joint Lead Managers and Joint Bookrunners for the Offering were Australia and New Zealand Banking Group Limited, Barclays Bank PLC, Singapore Branch, J.P. Morgan (S.E.A.) Limited and Standard Chartered Bank.

    Shekhar Anantharaman, Olam’s Executive Director – Finance & Business Development said: “We are pleased with the outcome of this USD issuance which, similar to our recent SGD issuance, was also priced competitively. We are also encouraged by the strong support and the broad participation by both institutional investors and private banks.”

    Note: This release should be read and understood only in conjunction with the full text of Olam International Limited’s announcement lodged on SGXNET on 29 July 2014 on the same subject.


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