Singapore's Olam lifts euro medium-term note program to $5 billion

By Jennifer Chiou

New York, July 14 – Olam International Ltd. announced that it has increased its originally $2 billion euro medium-term note program to $5 billion.

DBS Bank Ltd., HSBC Ltd., Singapore Branch and Standard Chartered Bank are the joint lead arrangers and dealers.

As reported, the company intends to use proceeds from notes issued under the new program for working capital purposes and general corporate purposes.

Olam previously said it does not plan to issue any more notes under its existing S$800 million multicurrency medium-term note program.

The issuer is a Singapore-based supply chain manager and processor of agricultural products and food ingredients.

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