Olam issues $249m worth of notes

Those are 5-year fixed rate notes in a private placement.

Olam International Ltd. has successfully priced $249m (US$175m) of 5-year fixed rate notes in a private placement through its wholly-owned subsidiary Olam Americas Inc.

Due to strong demand, the notes which were initially offered were oversubscribed by US$75 million.

"The Notes were placed to six investors in the US at a spread of 199 basis points over the 5-year US treasury rate, which translates to a fixed coupon of 3.90% for 5 years," Olam said in a statement.

Proceeds from the issue of the said notes will be used by Olam's subsidiary for repayment of existing bank debt and general corporate purposes. Closing and funding of the transaction will occur in January 2017.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia