It is priced at 4% and will mature on 24 February 2026.
Agri-business firm Olam International (Olam) has priced a benchmark $400m issuance of senior unsecured notes due 2026 under its $6.84b (US$5b) Euro medium term note programme, a press release revealed.
The notes will bear interest at a fixed rate of 4% per annum payable semi-annually in arrear. It is expected to be issued on 24 August and is expected to mature on 24 February 2026. Net proceeds from the issue of the notes will be used for debt refinancing.
“This issuance marks Olam’s first return to the public capital markets since 2017. The issuance tenor of five years and six months helped extend our debt maturity into 2026, whilst still pricing within our secondary trading levels,” N Muthukumar, managing director and group CFO of Olam, said.
The joint lead managers for the transaction were Australia and New Zealand Banking Group Limited, Credit Suisse (Singapore) Limited, DBS Bank, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Standard Chartered Bank (Singapore) Limited.
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