Olam buys back US$10.3m of convertible bonds

The bonds are due 2016.

The agribusiness company announced that it has repurchased US$10.3m of its US$500m principal amount of 6% convertible bonds which are due 2016.

According to a release by Olam, the buyback has been completed last 21 January 2016.

“Following cancellation of (a) the Repurchased Bonds; (b) Bonds having an aggregate principal amount of US$269,500,000 pursuant to the Company's acceptance of the offer to tender for repurchase as announced on 21 December 2015.” the release said.

“Bonds having an aggregate principal amount of US$175,900,000 pursuant to the Company's acceptance of the offer to tender for repurchase as announced on 11 January 2016, the aggregate outstanding principal amount of the Bonds is US$44,300,000,” the release added.