SINGAPORE (Indonesia Today) – Olam International Limited, a leading global, integrated supply chain manager and processor of agricultural products and food ingredients, has yesterday priced a US$500 million issuance of 5-year Senior Notes under its US$2 billion Euro Medium Term Note Program.
Olam claimed the offering attracted 130 investors with order of US$1.6 billion. “In addition to demand from private banking accounts, the Offering also saw strong participation from institutional investors such as fund managers and banks, which collectively were allocated 30% of the Offering. In terms of geographical distribution, approximately 81% was allocated to Asian investors, with the remainder allocated to European investors,” the company said this morning.
The Offering was priced at a final coupon of 5.75%. The Joint Lead Managers and Joint Bookrunners for the Offering were Credit Suisse (Singapore) Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan (S.E.A.) Limited, and UBS AG, Singapore Branch.
“The Notes will be used by the Company and its subsidiaries for working capital purposes and general corporate purposes, including financing capital expenditure and potential acquisition,” Olam said. (Indonesia Today)