Catch up on the latest Olam news and delve more into how we’re driving innovation and change through our blog series.
Latest on Olam
13th Jul, 2020
Olam prices US$50 million US private placement
Leading global food and agri-business, Olam International (“Olam’’), announced today that its wholly owned subsidiary, Olam Americas Inc. (“OAI”) has successfully priced a US$50 million issuance of 5-year fixed rate notes (the “Notes”) via a private placement at a fixed coupon of 3.27%.
Proceeds from the issue of the Notes will be used by OAI and its US affiliates for general corporate purposes.
Rabobank acted as the sole placement agent for the transaction.
Olam secures third medium-term Samurai loan facility of JPY 25 billion
Leading global food and agri-business, Olam International(“Olam’’), announced today that its wholly owned subsidiary, Olam Treasury Pte. Ltd. (“OTPL”), has secured a medium-term samurai loan facility (the “Facility”) aggregating JPY 25 billion in the Japanese market.
N Muthukumar, Managing Director and Group CFO of Olam said: “We are extremely pleased to return to the Japanese loan market with our third Samurai Facility since 2017. Such facilities are a key part of our financing strategy as they help to diversify our funding mix and extend our loan tenor. I would like to thank the four lead arrangers and bookrunners for their support.”
The Facility consists of two tranches: (i) a 3-year tranche of JPY 18.75 billion, and (ii) a 5-year tranche of JPY 6.25 billion, guaranteed by Olam. Proceeds from the Facility will be applied towards refinancing of OTPL’s existing loans and general corporate purposes.
MUFG Bank Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Ban
Disclosure of cooperative suppliers in Côte d’Ivoire
In October 2019 we launched Cocoa Compass, our sustainability ambition for the future of cocoa. With milestones for action in 2020 and 2024, it sets concrete goals for 2030 across our global, direct cocoa supply chain. These goals will help us achieve our vision of an environmentally positive, professionalised and quality focused cocoa supply chain comprising farmers earning a living income and whose children have access to education.
Olam Brazil: A reference point for growth with purpose
For a second consecutive year, Olam has been recognised by Great Place to Work (GPTW) as one of Brazil’s best employers. In the 2020 rankings, Olam Brazil ranked fifth among all large agribusinesses in the country – an endorsement of the professional career environment we seek to create for our 1,500 people working across 11 states.
We spoke with President & Regional Head of Latin America, Sathyamurthy Mayilswamy (Satya), and Vice President of Human Resources - Latin America, Cesar Salinas (Cesar) to discuss how Olam Brazil’s staff grow together with the business, now a leader in crops including coffee, cocoa, cotton, grains and black pepper.
Educating children on COVID-19 prevention and child labour in Côte d’Ivoire
Recently, children in the cocoa growing communities we work with in Côte d’Ivoire came together to celebrate the International Day of the African Child, which raises awareness of the challenges children face in Africa, with a focus on improving access to quality education.
During the pandemic, this message is more vital than ever. Schools were closed to slow the spread of the virus, disrupting children’s learning and increasing the risk of child labour as they were kept home on family farms at a time when it was hard for farmers to employ other labour.
So, as pupils returned to school, we partnered with the Dominique Ouattara School Complex, constructed in 2015 through funds from Olam Cocoa, to teach them about COVID-19 prevention, boost their enthusiasm for education and learning, and show we cannot let the pandemic damage children’s futures through increased risk of child labour.
Over the course of the day, the pupils were visited by an award-winning youth theatre group who perfor