Underwriting makes a comeback as Olam launches loan

Olam International, the commodities firm that sold an aggressively-priced convertible bond last week, launched a rare fully underwritten $540m loan on Friday in the latest sign that confidence is returning to the Asian debt markets.

  • 08 Sep 2009

The $540m loan for Olam is underwritten equally by Bank of Baroda, BNP Paribas, Credit Suisse, DBS, HSBC, ING, JPMorgan, Natixis and Standard Chartered, with each lender bankrolling $60m.

This deal adds to the increasing number of fully underwritten deals appearing in Asia, a signal that the loan ...

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