A press release from Olam International, Singapore has said that the leading global food and agri-business company has issued JPY 9 billion 5-year notes via a private placement in Singapore, on September 2, 2021. The statement says, “Leading global food and agri-business Olam International Limited (“Olam’’) has issued JPY 9 billion (~US$81 million) 5-year notes due 2026 (the “Notes”) via a private placement under Olam’s US$5,000,000,000 Euro Medium Term Note Programme”.
The statement said further that, “the Notes were issued at a fixed coupon of 1.61% payable semi-annually in arrears and will mature on September 2, 2026. Société Générale (Singapore) acted as the sole manager and swap dealer for this transaction. Proceeds from Notes will be used by Olam and its subsidiaries (the “Group”) for working capital purposes and general corporate purposes, including re-financing of debt, financing capital expenditure and potential acquisition opportunities which the Group may pursue in the future as part of its strategic objectives”.
Olam International is a leading food and agri-business supplying food, ingredients, feed and fibre to 17,300 customers worldwide. Their value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of an estimated 5.0 million farmers. Through Olam’s purpose to ‘Re-imagine Global Agriculture and Food Systems’, Olam aims to address the many challenges involved in meeting the needs of a growing global population, while achieving positive impact for farming communities, our planet and all Olam stakeholders.
Olam International is Headquartered and listed in Singapore, and currently ranks among the top 30 largest primary listed companies in terms of market capitalisation on SGX-ST. Since June 2020, Olam International has been included in the FTSE4Good Index Series, a global sustainable investment index series developed by FTSE Russell, following a rigorous assessment of Olam’s supply chain activities, impact on the environment and governance transparency. The FTSE4Good Index Series identifies companies that demonstrate strong Environmental, Social and Governance (ESG) practices and is used by a variety of market participants to create and assess responsible investment funds.
More information on Olam can be found at (www.olamgroup.com).
Credit: Olam International Newsroom Updates.
