olam intl ltd-unsp adr (OLMIY) Key Developments
Commodity Futures Trading Commission Imposes $3 Million Penalty against Olam International, Ltd. and Olam Americas, Inc
Jan 21 15
The U.S. Commodity Futures Trading Commission issued an order filing and simultaneously settling charges against Olam International Ltd. and Olam Americas, Inc. Commodity Futures Trading Commission (CFTC) imposed $3 million penalty against Olam International Ltd. and Olam Americas, Inc. for violating Cocoa Position Limits and unlawfully executing noncompetitive trades. Olam International and Olam Americas failed to disclose to the CFTC that their cocoa futures trading was not independently controlled. The U.S. Commodity Futures Trading Commission (CFTC) issued an order filing and simultaneously settling charges against Olam International Ltd. and Olam Americas, Inc. Both companies purchase, sell, and trade cocoa and other agricultural products. The CFTC Order requires Olam International and Olam Americas to pay a $3 million civil monetary penalty and prohibits them from committing future violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged.
Olam International Raises $50 Million in Private Placement of Notes
Jan 16 15
Olam International Limited has raised $50 million in a private placement of five year senior notes due 2020. The notes are issued at a fixed coupon of 4% and will mature on January 22, 2020. The Hongkong and Shanghai Banking Corporation Limited acted as sole manager for the transaction. Olam International will use the proceeds to fund its ordinary course of business.
Olam International Limited Secures Five Year Term Loan of AUD 350 Million for Its Australian Subsidiaries Olam Orchards Australia Pty Ltd and Olam Australia Pty Ltd
Dec 12 14
Olam International Limited announced that it has secured a 5-year term loan of AUD 350 million for its Australian subsidiaries Olam Orchards Australia Pty Ltd. and Olam Australia Pty Ltd. Proceeds from the Facility will be applied towards refinancing of existing debt and meeting working capital and general corporate funding requirements of the company.
McCleskey Mills, Inc., Olam International Limited - M&A Call
Dec 4 14
To consider acquisition between Olam International Limited and McCleskey Mills, Inc
Olam International Limited Secures Revolving Credit and Term Loan Facilities
Nov 19 14
Olam International Limited announced that it has secured revolving credit and term loan facilities aggregating USD 2,475 million. The facilities consist of three equal tranches of USD 825 million each, a 364-day revolving credit facility, a 2-year revolving credit facility and a 3-year term loan. Proceeds from the facilities will be applied towards refinancing of existing debt and meeting working capital and general corporate funding requirements of the company.