Singapore's Olam sets up $2bn Euro note programme

SINGAPORE: Singapore agricultural commodities firm Olam International on Saturday said it had set up a $2 billion Euro Medium Term Note Programme to raise funds for working capital and possible acquisitions.

Using the notes programme, a company can from time to time issue various debt securities subject to the same set of conditions.

DBS Group, HSBC and Standard Chartered are the programme's joint arrangers and dealers.

Shares of Olam, which is part-owned by Singapore state investor Temasek, have fallen around 12 percent this year, lagging the 13 percent rise in the benchmark Straits Times Index