Olam makes aggressive return to dollar market, but too tight for some

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By Virginia Furness
31 Jul 2014

Olam International embarked on the next stage of its capital markets rehabilitation this week with a new dollar bond. The Singapore-based borrower was intent on repricing its existing curve, and duly presented the market with aggressive initial guidance. That approach drew some criticism, but bankers on the deal said the borrower achieved what it had set out to do, writes Virginia Furness.

Olam was last seen in the dollar market in September 2012, but shortly after that the firm was hit by negative reports from research firm Muddy Waters that sparked a widespread sell-off of its bonds, making any quick return to the capital markets expensive, if not ...

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