Olam unit prices US private placement

It will issue notes worth US$125m.

Olam Food Ingredients (ofiI) will issue US$125m worth of units under its US private placement.

In a bourse filing, ofi’s parent company, Olam Agri said the private placement comprises US$25m 5-year floating rate notes and US$100m 7-year floating rate notes.

Ofi’s indirect subsidiary, Olam Americas LLC (OAL) issued the notes.

Meanwhile, Rabobank acted as the sole placement agent for the transaction.

OAL and its US affiliates will use proceeds from the notes issuance for refinancing existing debt and general corporate purposes.

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