Olam adds US$3b to medium-term bond programme

The programme now stands at US$5b.

Olam International today announced that it has updated its Medium Term Note Programme by increasing the maximum aggregate principal amount of notes that may be issued under the Programme by US$3b.

The programme, which was established on July 6 2012, was initially capped at U.S.$2,000,000,000. Following the update, the maximum aggregate principal amount of notes is now at U.S.$5,000,000,000.

Following the increase, the Programme has been renamed as the Company's "U.S.$5,000,000,000
Euro Medium Term Note Programme".

“In conjunction with the increase in programme limit and the update of the Programme, the Company has issued an updated offering circular dated 14 July 2014 relating to the Programme (the "Offering Circular") and entered into a Supplemental Trust Deed with The Bank of New York Mellon, London Branch on 14 July 2014 to amend the trust deed dated 6 July 2012 relating to the Programme,” noted Olam.

Here’s more from the release:

DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Standard Chartered Bank are the arrangers for the Programme, and Australia and New Zealand Banking Group Limited, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Standard Chartered Bank are the dealers for the Programme. 

Application has been made to the Singapore Exchange Securities Trading Limited (the "SGX-ST") for permission to deal in and the quotation for any Notes that may be issued pursuant to the Programme and which are agreed at or prior to the time of issue thereof to be so listed on the Official List of the SGX-ST.

In addition, at the relevant time of issue of the Notes which are agreed at or prior to the time of issue to be listed on the Official List of the SGX-ST, a separate application will be made to the SGX-ST for the permission to deal in and quotation of such Notes on the Official List of the SGX-ST.