Olam International has priced US$100 million ($134.3 million) worth of five-year notes via a private placement under Olam’s US$5 billion Euro Medium Term Note Programme.

The notes, which are due 2026, will carry a fixed coupon of 3.25% payable semi-annually in arrears. They will be issued on March 31.

Scotiabank acted as the sole manager for this transaction.

SEE: Olam International acquires 51% stake in Togo's state-owned cotton company for $24.4 mil

Proceeds from the notes will be used by the group for working capital purposes and general corporate purposes.

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Shares in Olam closed flat at $1.66 on March 24.