Press Release

    Olam International prices US$175 million US debt private placement

    Press release

    Olam International Limited (“Olam”) announced today that its wholly-owned subsidiary Olam Americas Inc. (“OAI”) has successfully priced US$175 million of 5-year fixed rate notes (the “Notes”) in a private placement.

    The Notes were initially offered for US$100 million, but was oversubscribed by US$75 million on the back of strong demand. The Notes were placed to six investors in the US at a spread of 199 basis points over the 5-year US treasury rate, which translates to a fixed coupon of 3.90% 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. Closing and funding of the transaction will occur in January 2017.

    Jayant Parande, President & Global Head of Treasury & IR said: “We are delighted with our debut US private placement issue. This transaction helps in diversifying our borrowing base through a new source of long-term funding at attractive, fixed-rate coupons.”

    Rabo Securities acted as the sole placement agent for the transaction.


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