SINGAPORE (July 14): Olam International is to issue US$500 million ($674 million) of perpetual capital securities under its US$5 billion Euro Medium Term Note (EMTN) Programme.

According to Olam’s CFO, Neelamani Muthukumar, the deal represents the “largest ever US$ perpetual offering by a Singapore-based issuer”.

In a Wednesday statement, Olam adds that the transaction is in line with the group’s strategy of “actively managing its capital structure in a cost effective manner”.

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