Bounty harvest: Investors flock around Olam's $400 million note

The order book is now oversubscribed.

Agribusiness company Olam International priced a $400 million note issuance under its updated US$5,000,000,000 Euro Medium Term Note Programme.

According to a release by Olam, the transaction attracted over 100 investors across private banking, institutional accounts and banks. The company intended the allocation primarily for Singapore based investors. It was priced at a final coupon of 4.25%, well within the initial guidance, in the region of the mid 4% area, reflecting the quality of the order book.

The join lead managers and joint bookrunners for the issuance are DBS, HSBC Singapore and The Royal Bank of Scotland.