Olam prices US$120 million five-year notes via private placement

Palm tree at plantation in Sumatra, IndonesiaPalm tree at plantation in Sumatra, Indonesia

Olam International’s wholly owned subsidiary Olam Americas priced a US$120 million (S$165.04 million) offering of five-year fixed-rate notes at 3.89 percent in a private placement, the agribusiness said in a filing to SGX Tuesday.

The notes were placed to nine investors, Olam said.

The proceeds will be used by Olam Americas and its U.S. affiliates to repay existing debt and for general corporate purposes, the filing said.

Rabobank was the sole placement agent for the deal, Olam said.

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