Olam International prices US$170 million US debt private placement
Olam International Limited (“Olam”) announced today that its wholly-owned subsidiary Olam Americas Inc. (“OAI”) has successfully priced a follow-on US$170 million issuance of 5-year fixed rate notes (the “Notes”) in a private placement, taking the total issuances in the US market to US$345 million.
The Notes were placed to eight investors in the US at a spread of 195 basis points over the 5-year US treasury rate, which translates to a fixed coupon of 3.73% for 5 years.
Proceeds from the issue of the Notes will be used by OAI and its US affiliates for repayment of existing bank debt and general corporate purposes.
Rabo Securities acted as the sole placement agent for the transaction.