Olam grabs opportunity to tap 2021s for extra $150m

cashew nuts, agriculture
By Rashmi Kumar
08 Sep 2016

Olam International returned with a $150m tap of its existing notes this week, managing to find strong demand from fund managers despite ending up with only a modest order book.

The Singapore-based agricultural and commodities firm was opportunistic with the timing of its transaction, having seen a rally in rates and spreads in the secondary market, according to a banker close to the deal. Olam also wanted to lower the cost of its funding, and given it recently ...

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