Olam prices US$275M note placement

U.S. one-dollar and five-dollar currency notes; taken September 2018.

Olam International‘s wholly owned subsidiary Olam Americas has priced US$275 million worth of five- and seven-year notes, through a private placement, the agri-business said in a filing to SGX Tuesday.

The pricing of US$200 million of five-year fixed rate notes was at 3.05 percent, and US$75 million of seven-year fixed-rate notes was priced at 3.25 percent, Olam said.

The proceeds are earmarked of Olam Americas and its U.S. affiliates for general corporate purposes, the filing said.

The deal is expected to be completed on 16 February, Olam said.

The sole placement agent for the deal is ING Financial Markets, the filing said.