SINGAPORE – Olam International Limited (“Olam” or the “Company”), a leading agri-business operating across the value chain in 65 countries, announced on August 31 2015 the issuance of ¥6.2 billion (approximately US$51.2 million) 5 year Senior Notes due 2020 (the “Notes”) in a private placement under its US$5,000,000,000 Euro Medium Term Note Programme established by the Company on 6 July 2012 and updated on 21 August 2015.
The Notes were issued at a fixed coupon of 1.375% payable semi-annually in arrears and will mature on September 9, 2020. The post-swap US Dollar fixed coupon will be 3.75% per annum. The net proceeds from this issue will be applied by Olam to fund its ordinary course of business.
Olam’s Executive Director – Finance & Business Development A. Shekhar said: “We are pleased to announce our first Japanese Yen denominated issuance under the EMTN programme. This private placement transaction provides further diversification of our borrowing mix across currencies and geographies in a cost-effective manner.”
The Hongkong and Shanghai Banking Corporation Limited acted as sole manager for this transaction.