Olam buys back S$39.2 million 7% bonds, S$15 million 6% notes

By Toni Weeks

San Luis Obispo, Calif., Jan. 21 - Singapore's Olam International Ltd. said it has repurchased S$39.2 million of its S$275 million of 7% perpetual capital securities and S$15 million of its S$500 million of 6% fixed-rate notes due 2022 via on-market purchases.

The bonds were repurchased at average prices of 92.38 for the 7% bonds and 92.96 for the 6% bonds. The repurchases were in line with the company's balance sheet optimization objective, according to a company notice.

Following the repurchases, the remaining principal amount of the 7% bonds and the 6% notes will be S$235.8 million and S$485 million, respectively.

Olam International is a food processing company based in Singapore.

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