By Wendy Van Sickle
Columbus, Ohio, July 3 – Singapore’s Olam International Ltd. priced S$300 million of subordinated perpetual securities at par, according to a company news release.
The joint lead managers and joint bookrunners for the Regulation S deal were Credit Suisse (Singapore) Ltd., DBS Bank Ltd., HSBC Corp. Ltd., Singapore Branch and Standard Chartered Bank.
The notes will be callable at par beginning on July 11, 2022, at which time the coupon will be reset.
The notes were sold under the company's updated $5 billion euro medium-term note program.
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: | Subordinated perpetual securities
|
| Amount: | S$300 million
|
| Maturity: | Perpetual
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| Bookrunners: | Credit Suisse (Singapore) Ltd., DBS Bank Ltd., HSBC Corp. Ltd., Singapore Branch and Standard Chartered Bank
|
| Coupon: | 5˝% for the first five years, after which it will reset every five years
|
| Call: | At par beginning July 11, 2022
|
| Price: | Par
|
| Yield: | 5˝%
|
| Trade date: | July 3
|
| Settlement date: | July 11
|
| Distribution: | Regulation S
|
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