Olam International to issue US$500m fixed rate notes

The notes will bear interest at a fixed rate of 5.75 per cent per annum payable semi-annually in arrear.

Olam International Limited announced that it will be issuing US$500 million 5.75% fixed rate notes due 2017. The notes will be issued under the US$2 billion Euro Medium Term Note Programme established by the company on 6 July 2012.

Credit Suisse (Singapore) Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan (S.E.A.) Limited and UBS AG, Singapore Branch have been appointed to act as the joint lead managers and joint bookrunners for the issue.

The notes will be issued at an issue price of 100% of their principal amount and in denominations of US$200,000 and integral multiples of US$1,000 in excess thereof. They are expected to be issued on 20 September 2012 and are expected to mature on 20 September 2017.

Proceeds from the issue of the notes will be used by the company and its subsidiaries for working capital purposes and general corporate purposes, including financing capital expenditure and potential acquisition opportunities.

Application will be made to the Singapore Exchange Securities Trading Limited for permission to deal in and quotation of the notes on the SGX-ST.

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