By Colin Hanner
Chicago, June 16 – Olam International Ltd.’s wholly owned subsidiary, Olam Americas Inc., priced a $170 million add-on to its 3.73% five-year notes, the company said in a news release.
The notes were placed at a spread of 195 basis points over the five-year U.S. Treasury rate.
Proceeds of the notes will be used for repayment of existing bank debt and general corporate purposes.
Rabo Securities was the agent for the deal.
In December, Olam priced $175 million of 3.9% five-year fixed-rate notes, bringing the total issuance to $345 million.
Olam is a Singapore-based provider of supply chain management for agricultural products and food ingredients.
| Issuer: | Olam Americas Inc.
|
| Issue: | Fixed-rate add-on notes
|
| Amount: | $170 million
|
| Maturity: | Five years
|
| Agent: | Rabo Securities
|
| Coupon: | 3.73%
|
| Spread: | 195 bps over five-year U.S. Treasury rate
|
| Pricing date: | June 16
|
| Distribution: | Private placement
|
| Total amount: | $345 million, including $175 million priced in December 2016
|
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