By Andrea Heisinger
Omaha, Dec. 6 - Archer-Daniels-Midland Co. (ADM) priced $500 million of 6.45% 30-year notes Thursday to yield 200 basis points more than Treasuries, an informed source said.
The notes (A2/A) priced at 99.554 to yield 6.483%. They have a make-whole call at Treasuries plus 30 bps.
The issue went right into a launch with no price talk, the source said.
Bookrunners were Barclays Capital Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co.
The agricultural products processor is based in Decatur, Ill.
| Issuer: | Archer-Daniels-Midland Co.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 15, 2038
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co.
|
| Coupon: | 6.45%
|
| Price: | 99.554
|
| Yield: | 6.483%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Trade date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
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