Olam tenders for up to $150 million of 1% convertibles

New York, Dec. 3 - Olam International Ltd. said it plans to tender for up to $150 million of its $300 million 1% convertible bonds due 2013.

The Singapore-based supplier of agricultural products and food ingredients said the offer is part of its "commitment to the active management of its balance sheet."

The tender began at 8 p.m. ET on Dec. 3 and will end at 11 p.m. ET on Dec. 4.

J.P. Morgan (S.E.A.) Ltd. is tender agent.

Settlement is expected on Dec. 17.

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