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Olam International, a Singapore- based commodity trader, plans a benchmark sale of 10-year dollar bonds, according to a person familiar with the matter.
The company hired HSBC Holdings Plc and JPMorgan Chase & Co. to manage the sale, it said in a statement to the Singapore stock exchange earlier today.
Olam, which has about US$2.4 billion ($3.24) in bonds and loans maturing by the end of 2017, last sold notes in January, according to data compiled by Bloomberg.
Its $250 million of 4.07% bonds due 2013 traded at a record high of 101.46 cents on the dollar to yield 3.459% today, according to Standard Chartered Plc prices.
Olam has a presence in 64 countries and supplies agricultural products and food ingredients to more than 10,600 customers, according to its website. Benchmark typically means at least US$500 million.
