There were US$25 million worth of five-year floating rate notes and US$100 million worth of seven-year floating rate notes.

Olam Group’s VC2 wholly-owned subsidiary, Olam Food Ingredients (OFI) has priced US$125 million ($169.2 million) worth of five-year and seven-year floating rate notes. There were US$25 million worth of five-year floating rate notes and US$100 million worth of seven-year floating rate notes.

The notes were issued by OFI’s 100% indirect subsidiary, Olam Americas LLC, and priced via a private placement to US investors.

Proceeds from the issue of the notes will be used by Olam Americas and its US affiliates for refinancing existing debt and general corporate purposes.

Rabobank acted as the sole placement agent for the transaction.

As at 9.52am, shares in Olam Group are trading 1 cent higher or 0.8% up at $1.26.

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