Singapore's Olam tenders, seeks consents for S$50 million 6% notes

By Wendy Van Sickle

Columbus, Ohio, Aug. 21 – Olam International Ltd. tendered for any and all of its S$50 million of its 6% notes, series 001, due 2018.

The issuer is also seeking to amend the notes to include a call provision.

The issuer said it plans to offer S$50 million of new notes that it would use to fund the tender offer and consent solicitation.

Olam is offering par plus an early consent fee and an early tender premium of 50 basis points each to holders who tender their notes and deliver their consents by 5 a.m. ET on Sept. 4.

Holders who tender their notes and deliver their consents after that early deadline will receive and tender premium of 25 bps and a consent fee of 25 bps.

Consent fees will be paid only if the consent bid is successful.

The tender offer and consent solicitation will expire at 10:30 p.m. ET on Sept. 10.

HSBC Ltd. (656-658 8904 or liability.management@hsbcib.com) is the dealer manager.

Deutsche Bank AG, Singapore Branch (656-423-6656, 656-423-8232, 656-423-4091 or sg.csg@list.db.com) is the tender agent.

Olam is a Singapore-based supply chain manager and processor of agricultural products and food ingredients.

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