| Olam International Ltd., the Singapore commodities trader that fended off an attack from U.S.-based short seller Muddy Waters LLC in 2012, is discovering it’s good to have friends with deep pockets.
Nineteen banks from around the globe last week lent $1 billion to the company, which has been controlled by Singapore state investment fund Temasek Holdings Pte since 2014. Olam’s 2020 dollar bonds returned 6.9 percent in the past year, as those of rival commodities traders slumped. Noble Group Ltd.’s notes of the same maturity lost 24 percent in the same period and Trafigura Beheer BV’s euro-denominated bonds lost 10.6 percent since their April sale...............................................Full Article: Source
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