Olam International Limited

The securities bear a distribution rate of 5.375% for the first five and a half years.

This is the first major acquisition for Olam Food Ingredients after Olam’s reorganisation.

The transaction is expected to be completed by December 2020.

Proceeds from the loan will be applied towards general corporate purposes of Olam and its subsidiaries.

The world’s third-largest cocoa processor is able to track all the cocoa in its direct supply chain in nine countries.

The issuance, issued in collaboration with HSBC Singapore and Temasek, successfully replicates a $400 million 5.5-year public bond issue and a follow-on $100 million tap of the same issue by Olam International.

The board has declared an interim dividend of 3.5 cents per ordinary share for the period, unchanged from 1H19, which will be paid to shareholders on Aug 28.

 

SINGAPORE (May 14): Olam International has announced earnings of $168.9 million for 1Q19, rising 6.9% y-o-y from $158 million due to improved operating performance, which was offset in part by increased depreciation and finance costs.  

SINGAPORE (Oct 24): Agri-business Olam International has acquired a 100% stake in Schulter S.A., an East African coffee specialist, for US$7.5 million ($10.44 million).