Commodity demand spurs interest in Olam CB

The $300 million bond is priced with a 30% premium, while the coupon and yield are both set at the wide end of terms with the aim of exercising the $100 million upsize option.

Olam International, a global supply chain manager and trader of agricultural products and food ingredients, has raised $300 million from a convertible bond that attracted strong interest from buyers but, in the end, priced at the best terms for investors.

A source notes that OlamÆs management is keen to ensure that the bonds trade well in the secondary market so that it will be able to exercise the $100 million upsize option. JPMorgan and Macquarie were the joint arrangers...

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