AGRIBUSINESS | Staff Reporter, Singapore

Olam International to issue $100m perpetual securities

Thise will be consolidated with its existing $250m securities, issued under the same programme.

Olam International Limited has announced its plans to issue $100m subordinated perpetual securities, which will be consolidated with its existing $250m perpetual securities, issued last January.

The issue price is set at 100.01 per cent of the aggregate principal amount, in addition to the accrued interest from 18 January 2021 to the issue date.

Its distribution rate is 5.375% annually until 18 July 2026.

This forms part of the company’s US$5b euro medium term note programme.

Net proceeds, according to the company, will be used for debt refinancing amongst other purposes, outlined in its 5 May offering circular.

This also includes financing capital expenditure and potential acquisition opportunities.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.