Olam International has issued JPY 9 billion ($109.8 million) worth 5-year notes via a private placement under its US$5 billion Euro Medium Term Note Programme.
The notes were issued at a fixed coupon of 1.61%, and are payable semi-annually with a maturity date of Sept 2, 2026.
Olam says that the proceeds will be used by Olam and its subsidiaries for working capital purposes and general corporate purposes.
This includes the re-financing of debt, financing capital expenditure and potential acquisition opportunities which Olam may pursue in the future as part of its strategic objectives.
Shares of Olam closed at $1.62 on Sep 2, one cent lower or down 0.61% compared to its previous close.
