Singapore's Olam International doubles size of multicurrency note program to S$800 million

By Reshmi Basu

New York, June 24 - Olam International Ltd. said it has increased the size of its existing multicurrency medium-term note program to S$800 million from S$400 million.

Proceeds from the restructuring will be used for refinancing existing borrowings, working capital requirements and general corporate purposes.

Standard Chartered Bank is the manager of the program, which was set up on March 9, 2004. The program was increased to S$200 million from S$400 million on Dec. 13, 2004.

Olam, based in Singapore, is a global integrated supply chain manager of agricultural products and food ingredients.

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