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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Olam raises S$1.5 bln with full Temasek backing

Posted on 04 December 2012

Olam International, under attack from United States-based short seller Muddy Waters over its finances, has found strong backing from key shareholder Temasek Holdings, which will not only subscribe to its portion of a massive US$1.25 billion (S$1.52 billion) capital raising exercise by the Singapore-based commodities giant but will also subscribe to any bond or warrant not taken up by other shareholders.
Put together at the weekend by Olam’s bankers and Temasek, the offer to the commodity firm’s shareholders will see the issue of US$750 million in five-year bonds carrying a coupon of 6.75 per cent a year, stapled with up to US$500 million of warrants………………………………………..Full Article: Source


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