Key Developments: Olam International Limited (OLAM.SI)

OLAM.SI on Stock Exchange of Singapore

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30 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Olam International Ltd issues $50 mln in private placement of notes
Thursday, 15 Jan 2015 04:46am EST 

Olam International Ltd:Announced the issuance of $50 mln five year senior notes due 2020 in a private placement under its $5,000,000,000 Euro Medium Term Note Programme established by the company on July 06, 2012 and updated on July 14, 2014.Says the notes were issued to an institutional investor at a fixed coupon of 4.00 pct and will mature on Jan. 22, 2020.Says the net proceeds from this issue will be applied by Olam to fund its ordinary course of business.Says The Hongkong and Shanghai Banking Corporation Limited acted as sole manager for this transaction issue.  Full Article

Archer Daniels Midland Co to sell global Cocoa business to Olam International Limited
Monday, 15 Dec 2014 07:00pm EST 

Archer Daniels Midland Co:Says that it has reached an agreement to sell its global cocoa business to Olam International Limited for $1.3 billion.The sale encompasses ADM's entire global cocoa business, including processing facilities in Mississauga, Canada; Koog aan de Zaan and Wormer, Netherlands; Mannheim, Germany; Ilhéus, Brazil; Abidjan, Côte d'Ivoire; Kumasi, Ghana; and Singapore.Also included are ADM's buying stations in Brazil, Cameroon, Côte d'Ivoire, and Indonesia, as well as the company's deZaan and UNICAO brands.The majority of the about 1,550 colleagues in ADM's cocoa business will transfer to Olam with the sale.The proposed sale, which is contingent on customary regulatory approvals, is expected to close during the second quarter of 2015.  Full Article

Olam International to acquire McCleskey Mills for $176 million
Thursday, 4 Dec 2014 06:24pm EST 

Olam International Ltd:To acquire 100 percent of US peanut sheller McCleskey Mills, Inc at enterprise value of $176 mln.Acquisition will be funded by a combination of internal accruals and existing debt facilities.Deal expected to be earnings and returns accretive from year 1 after consolidation.Expected to be completed by Q3 FY2015.  Full Article

Olam International Ltd announces new multi-tranche facility of $2,475 mln
Wednesday, 19 Nov 2014 05:58am EST 

Olam International Ltd:Says t it has secured revolving credit and term loan facilities aggregating $2,475 mln.Says the facilities consist of three equal tranches of $825 mln each, a 364-day revolving credit facility, a 2-year revolving credit facility and a 3-year term loan.Says proceeds from the facilities will be applied towards refinancing of existing debt and meeting working capital and general corporate funding requirements of the company.  Full Article

Olam International Ltd announces incorporation of subsidiaries
Wednesday, 29 Oct 2014 06:47am EDT 

Olam International Ltd:Says it has incorporated wholly-owned subsidiaries namely, Olam Risk Management DMCC , Goliath Brands Pte. Ltd, Olam Nicaragua S.A.Says Olam Risk Management DMCC is incorporated in Dubai, United Arab Emirates and its principal activities are proprietary trading and marketing of its OTC products.Says Goliath Brands Pte. Ltd is incorporated in Singapore and its principal activities are investment holding.Says Olam Nicaragua S.A is incorporated in Nicaragua and its principal activities are Sourcing, processing, packaging and merchandising of agricultural products and inputs.  Full Article

Olam International Ltd sells dairy plant in Cote D’ivoire To Royal Frieslandcampina
Monday, 1 Sep 2014 06:10am EDT 

Olam International Ltd:Says a sale of its dairy processing plant in Cote d’Ivoire to Royal FrieslandCampina for a cash consideration of $18.7 million, excluding any working capital delivered at the closing of the transaction.In addition, Olam will assign its trademark Pearl for a cash consideration of $6.3 million, providing Friesland the right to use the trademark for sweet condensed and evaporated milk products in certain designated countries in Africa.  Full Article

Olam International Ltd declares dividend
Thursday, 28 Aug 2014 07:26pm EDT 

Olam International Ltd:Declares dividend of S$0.05 for FY ended June 30, 2014.Record date Nov. 6.Ex Date Nov. 4.  Full Article

Olam International Ltd expands partnership with Sanyo Foods to Grow Packaged Foods Business in Sub-Saharan Africa
Monday, 18 Aug 2014 05:06am EDT 

Olam International Ltd:Agrees to expand their existing strategic partnership with Sanyo Foods taking a 25.0 pct stake in Olam’s Packaged Foods business for a price consideration of US$187.5 mln.Expects to record a net cash inflow of US$167.5 mln and an addition to reserves of US$80.8 mln after the transaction is completed.  Full Article

Olam International Ltd issues of 4.50 pct fixed rate senior unsecured notes due 2020
Tuesday, 29 Jul 2014 11:50am EDT 

Olam International Ltd:Will be issuing $300,000,000 (US) 4.50 pct fixed rate senior unsecured notes due 2020.The Notes will be issued under the $5,000,000,000 Euro Medium Term Note Programme established by the company on July 6, 2012 and updated on July 14.Australia and New Zealand Banking Group Ltd, Barclays Bank PLC, Singapore Branch, J.P. Morgan (S.E.A.) Ltd and Standard Chartered Bank have been appointed to act as the joint lead managers and joint bookrunners for the issue of the Notes.The Notes will be issued at an issue price of 99.337 pct of their principal amount and in denominations of $200,000 and integral multiples of $1,000 in excess thereof.The Notes will bear interest at a fixed rate of 4.50 pct per annum payable semi-annually in arrears.The Notes are expected to be issued on Aug. 05 and are expected to mature on Feb. 05, 2020.  Full Article

Olam International Ltd updates on issue of S$400,000,000 4.25 pct notes due 2019
Tuesday, 22 Jul 2014 07:07am EDT 

Olam International Ltd:Refers to the announcement made on July 16.Says the notes have been issued on July 22.Says notes are expected to be admitted to the Official List of the SGX-ST with effect from July 23.  Full Article

RPT-Olam's cocoa purchase raises supply, price volatility concerns

NEW YORK, Dec 17 - Olam's $1.3 billion deal to buy rival Archer Daniels Midland's cocoa processing business may reduce liquidity in the niche cocoa bean trade, raising concerns about volatile prices and a potential shake-up of customer relationships.

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