Olam launches convertible bond exchange

The exchange offer is the latest in a series of moves by Olam to clear its outstanding debt.

Olam International yesterday announced an offer to investors in its existing convertible bond to exchange their holdings for a newly issued CB. The company, a Singapore-listed supply chain manager of agricultural products and food ingredients, has been actively reducing the burden of the $300 million CB that it issued in July last year following a collapse both of the price of the bond and of Olam's share price.

In December Olam repurchased $117.6 million of the original CB...

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