Muddy Waters offers to pay agency for second opinion on Olam
Muddy Waters, the short-seller sued by Olam International for defamation, offered to pay to get Olam's debt rated.
Muddy Waters said Olam's investors will benefit from the rating of its public debt by Standard & Poor's.
Muddy Waters also said Olam has increased its capital expenditure plans since the US company launched its criticism on November 19.
And this has increased risks for the Singapore-based trader.
According to today's statement, Olam has the option of accepting Muddy Waters's offer before 5 pm on December 5th.
According to data compiled by Bloomberg, Olam has the equivalent of US$5.8 billion of total debt outstanding, of which nearly US$2.9 billion are in bonds.
The company isn't rated by any agency.