SINGAPORE – Global food and agri-business Olam International Limited (“Olam”) announced that, on the back of additional investor demand, it has priced a S$100 million issuance (the “New Notes”) via reopening of its S$400 million 4.00% senior notes due February 2026 (the “Original Notes”) under its US$5,000,000,000 Euro Medium Term Note (EMTN) Programme.
The New Notes will be consolidated with the Original Notes to form a single series with a total size of S$500 million.
The New Notes were issued at par, plus accrued interest from the issue date of the Original Notes and are expected to settle on September 1, 2020.
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch acted as sole dealer for the New Notes.
Proceeds from the issuance will be used by Olam for debt refinancing and general corporate purposes.
Note: This release should be read and understood only in conjunction with the full text of Olam International Limited’s announcement lodged on SGXNET on August 25, 2020 on the same subject.