Olam Americas places $175 million 3.9% notes

By Devika Patel

Knoxville, Tenn., Dec. 6 – On Tuesday, Singapore-based Olam International Ltd.’s wholly owned subsidiary, Olam Americas Inc., placed $175 million of 3.9% five-year fixed-rate notes at a spread of 199 basis points over the five-year U.S. Treasury rate through agent Rabo Securities.

The provider of supply chain management for agricultural products and food ingredients initially offered $100 million of the notes, but the deal was oversubscribed by $75 million.

Proceeds from the deal, which is slated to settle in January, will be used to repay existing debt and for general corporate purposes.

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