By Toni Weeks
San Luis Obispo, Calif., July 15 – Singapore’s Olam International Ltd. priced S$400 million of 4¼% five-year notes at par, according to a company news release.
Price talk was around mid-4%.
The joint lead managers and joint bookrunners were DBS Bank Ltd., HSBC Ltd., Singapore Branch and Royal Bank of Scotland.
The notes were sold under the company's updated $5 billion euro medium-term note program, which was increased from $2 billion on Monday.
The Regulation S offering was oversubscribed, attracting more than 100 investors, according to a company news release. The company said that the allocation was primarily to Singapore-based investors.
Proceeds will be used for working capital purposes and general corporate purposes, including financing capital expenditures and potential acquisitions.
Singapore-based Olam International is a supply chain manager and processor of agricultural products and food ingredients.
| Issuer: | Olam International Ltd.
|
| Issue: | Notes
|
| Amount: | S$400 million
|
| Maturity: | July 22, 2019
|
| Bookrunners: | DBS Bank Ltd., HSBC Ltd., Singapore Branch and Royal Bank of Scotland
|
| Coupon: | 4¼%
|
| Price: | Par
|
| Yield: | 4¼%
|
| Trade date: | July 16
|
| Settlement date: | July 22
|
| Distribution: | Regulation S
|
| Price talk: | mid-4%
|
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