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Olam International Ltd Announces Issue Of SGD400,000,000 6.00% Fixed Rate Notes Due 2022

Tuesday, 16 Oct 2012 07:33pm EDT 

Olam International Ltd announced that it will be issuing SGD400 million 6.00% fixed rate notes due 2022 (the Notes). The Notes will be issued under the USD2,000,000,000 Euro Medium Term Note Programme established by the Company on July 6, 2012 (the EMTN Programme). Standard Chartered Bank has been appointed to act as the sole lead manager and bookrunner for the issue of the Notes. The Notes will be issued at an issue price of 100% of their principal amount and in denominations of SGD250,000. The Notes will bear interest at a fixed rate of 6.00% per annum payable semiannually in arrear. The Notes are expected to be issued on October 25, 2012 and are expected to mature on October 25, 2022. Proceeds from the issue of the Notes will be used by the Company and its subsidiaries (the Group) for working capital purposes and general corporate purposes, including financing capital expenditure and potential acquisition opportunities which the Group may pursue in the future as part of its strategic objectives. 

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11:42pm EDT