, Singapore

Olam places $275m notes in US

Proceeds from the issue will be used for general corporate purposes.

Olam International announced on 25 January that its wholly-owned subsidiary, Olam Americas Inc. (OAI), priced an issuance of five- and seven-year fixed-rate notes via a private placement.

The issuance comprised $268.70m (US$200m) of five-year fixed-rate notes at a coupon of 3.05% and $100.76m (US$75m) of seven-year fixed-rate notes at a coupon of 3.25%. The $369.46m (US$275m) transaction is expected to close on 16 February.

Proceeds from the issue of the notes will be used by OAI and its US affiliates for general corporate purposes. 

ING Financial Markets acted as the sole placement agent for the transaction.

(US$1 = SG$1.34)

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