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Olam International increases 7-Year Bond Issue by $US 100 million to raise a total of $US 500 million

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According to the Press Release, “Olam International Limited (“Olam” or the “Company”), a leading global, integrated supply chain manager of agricultural products and food ingredients, today announced that after the successful launch of Convertible Bonds to raise US$400 million on 2 September 2009, it has increased the issue size of its recently launched 6.00 per cent. convertible bonds due 2016 by an additional US$100 million, bringing the total issue size to US$500 million.

Olam had previously granted the Joint Lead Managers an upsize option for the issue of up to an additional US$100 million in principal amount of convertible bonds (“Upsize Option”).

The Joint Lead Managers have today exercised the option for the full US$100 million. The exercise of the Upsize Option will provide Olam with additional funds to realize the Company’s recently announced six year strategy, and further term out its debt profile. The entire US$100 million in convertible bonds, pursuant to the Upsize Option, will be placed by the Joint Lead Managers (“Placement”) to Breedens Investments Pte Ltd (“Breedens”), a substantial shareholder of Olam and an indirect wholly-owned subsidiary of Temasek Holdings (Pte) Ltd, which marks its second investment in Olam in the last three months.”

read more: Olam Press Release

PNB to Buy Stake from Malaysian Developers in Battersea Power Station Project

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Malaysia-based Permodalan Nasional Bhd (PNB) inked plans to acquire a stake in the Battersea Power Station from Malaysian developers Sime Darby Property and SP Setia, which between them own 80 percent of the site located on the south bank of the Thames. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Will Saudi Arabian Sovereign Wealth Be the Next Giant in Hollywood?

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Saudi Arabia’s growing Public Investment Fund (PIF) is reportedly looking into investing over US$ 500 million for a 5% to 10% stake in Hollywood’s Endeavor Talent Agency, the holding company for William Morris Endeavor Entertainment LLC (WME). WME is one of the biggest players in the business, representing well-known artists across a number of different mediums – including cinema, television, music, books, and theatre – as well as a roster of professional athletes from the National Football League (NFL) and National Hockey League (NHL). Discussions are in their initial stages, however, and no commitments have been made thus far. WME is constantly gathering new talent. Recently WME signed musician John Mayer and actor Nicolas Cage – both were with Creative Artists Agency (CAA).

A Logical Connection

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CDPQ Providers Firepower for Blackstone Buyout of PIRET

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Ivanhoé Cambridge, part of CDPQ, is a co-investor in Blackstone Group’s buyout of Pure Industrial Real Estate Investment Trust (PIRET), a listed Canadian warehouse owner. The actual Blackstone buyer is an affiliate of Blackstone Property Partners, its core real estate investment unit. The agreement was revealed on January 9, 2018. Blackstone moved to buy the REIT) for C$ 8.10 per Unit in an all-cash transaction valued at C$ 3.8 billion including debt. The transaction value without debt is C$2.48 billion.

Deal Advisors

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