Euromoney, May 2016
As bond deals go, it wasn’t the biggest: a $300 million five-year print with a modest $450 million book. But Olam’s April issue told us a lot about the company’s rehabilitation and the long-awaited comeback of debt capital markets issuance from Asia.
Seven years ago Olam was a rising star, an impeccably-connected soft commodities group with a model of dominating the supply chain from farm gate to consumer. It was the world’s largest supplier of cashew nuts and a big player in cocoa, cotton, teak and rice; it was one of the most active issuers and borrowers in Asia, flitting between the loan, equity, bond and convertible markets; and it was about to embark on an ambitious strategic plan to increase its intrinsic value four times over in the next six years.
Full article: http://www.euromoney.com/Article/3552232/Olams-return-signals-Asian-debt-revival.html.