Thursday, March 5, 2015

OLAM US$750 6.75%B180129

I received my cheque for the above for a sum of US$6512.63 today for the above. I bought 6300 units of  the 6.75% bond at a discount of 5% during the initial issue.The exchange rate then of about 1.20 plus between SG$ and US$. That was two years ago in the midst of Muddy Waters attack on Olam. Probably in a crisis would you be able to get such a deal. It has been a rewarding investment as I have gotten two years of dividends plus the gain in exchange rate. The bond was redeemed at 103.375% compared to the 95% entry price I had. I had intended to hold this till maturity but I guess olam find it onerous to continue due to the sharp appreciation of the US$. No regrets and will redeploy the funds when I find something appropriate.

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