Olam International to issue S$250m fixed rate notes

The notes are expected to be issued on 6 September 2012.

Olam International Limited announced that it will be issuing S$250 million 2.50% fixed rate notes due 2013. The notes will be issued under the US$2 billion Euro Medium Term Note Programme established by the company on 6 July 2012.

Australia and New Zealand Banking Group Limited and DBS Bank Ltd. have been appointed to act as the joint lead managers and joint bookrunners for the issue of the notes.

The notes will be issued at an issue price of 100% of their principal amount and in denominations of S$250,000. They will bear interest at a fixed rate of 2.50 per cent per annum payable semi-annually in arrear. The notes are expected to mature on 6 September 2013.

Proceeds from the issue of the Notes will be used by the company and its subsidiaries for working capital purposes and general corporate purposes, including re-financing existing debt obligations.

Application has been made to the Singapore Exchange Securities Trading Limited for permission to deal in and quotation of the notes on the SGX-ST.