By Marisa Wong
Morgantown, W.Va., Dec. 6 – Olam International Ltd.’s wholly owned subsidiary, Olam Americas Inc., priced $175 million of 3.9% five-year fixed-rate notes, according to a company announcement.
The company initially offered $100 million of the notes, but the deal was oversubscribed by $75 million.
The notes were placed at a spread of 199 basis points over the five-year U.S. Treasury rate.
Rabo Securities acted as the agent.
Proceeds from the private placement will be used to repay existing debt and for general corporate purposes.
Closing is slated for January.
Olam is a Singapore-based provider of supply chain management for agricultural products and food ingredients.
| Issuer: | Olam Americas Inc.
|
| Issue: | Fixed-rate notes
|
| Amount: | $175 million
|
| Maturity: | Five years
|
| Agent: | Rabo Securities
|
| Coupon: | 3.9%
|
| Spread: | 199 bps over five-year U.S. Treasury rate
|
| Pricing date: | Dec. 6
|
| Settlement date: | January
|
| Distribution: | Private placement
|
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