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ADM to sell one tranche of notes due 2051 via three bookrunners
Chicago, Sept. 7 – Archer-Daniels-Midland Co. announced an offering of fixed-rate notes due 2051 on Tuesday morning in a 424B2 filing with the Securities and Exchange Commission.
The notes have a make-whole call and then a par call six months before maturity.
Any change-of-control offer would be at 101.
Barclays, BNP Paribas Securities Corp. and MUFG are listed as joint bookrunners.
Bank of New York Mellon has been hired as the trustee.
Faegre Drinker Biddle & Reath LLP is advising the issuer. Mayer Brown LLP is advising the underwriters.
Proceeds will be used to pay the redemption price for the full redemption of ADM’s $500 million outstanding 2.75% notes due March 27, 2025. Any remaining proceeds will be used for general corporate purposes, which may include, without limitation, repayment of commercial paper borrowings.
The Chicago-based company processes agricultural commodities and manufactures food and feed ingredients.
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