Olam sells US$175 mil worth of fixed rate notes in private placement

SINGAPORE (Dec 6): Olam International’s subsidiary, Olam Americas, has sold US$175 million worth of five-year fixed rate notes in a private placement on Tuesday.

The notes were placed out to six US investors with a spread of 1.99% over the five-year US treasury rate, or at a fixed coupon of 3.9% for five years.

In a Tuesday night filing, Olam said US$100 million of the notes were available for subscription but these were oversubscribed by US$75 million.

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